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Bullboard - Stock Discussion Forum Cameco Ord Shs T.CCO

Alternate Symbol(s):  CCJ

Cameco Corporation is engaged in providing uranium fuel to generate clean, reliable baseload electricity around the globe. The Company also offers nuclear fuel processing services, refinery services and manufactures fuel assemblies and reactor components. Its segments include uranium, fuel services and Westinghouse. The uranium segment is involved in the exploration for, mining, milling... see more

TSX:CCO - Post Discussion

Cameco Ord Shs > More Raised Targets
View:
Post by retiredcf on Nov 01, 2023 10:13am

More Raised Targets

Elsewhere, others making target changes include:

* Raymond James’ Brian MacArthur to $69 from $66 with an “outperform” rating.

“CCO provides investors with lower-risk exposure to the uranium market given its diversification of sources,” said Mr. MacArthur. “These sources are supported by a portfolio of long-term contracts that provide some downside protection in periods of depressed spot uranium prices, while maintaining optionality to higher uranium prices. In addition, CCO has multiple operations curtailed that could be brought back should uranium prices increase. Although the 2021 tax court decision applies only to the 2003, 2005, and 2006 tax years, we view it as a positive for CCO given we believe it could be relevant in determining the outcome for other years and reduces risk related to the CRA dispute.”

* Canaccord Genuity’s Katie Lachapelle to $65 from $60 with a “buy” rating.

“Despite a weak quarter, we remain fundamentally bullish on Cameco and the outlook for nuclear power and uranium prices. After mark-to-marking our model for FX and higher prices, our NAVPS and ntm [next 12-month] EBITDA as at October 1, 2024 have increased 8 per cent and 9 per cent, respectively,” she said.

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