In a report released today, Gordon Johnson from GLJ Research maintained a Buy rating on Cameco (CCJ – Research Report), with a price target of $75.27.
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Gordon Johnson has given his Buy rating due to a combination of factors that highlight Cameco’s potential for growth. The company’s 49% stake in Westinghouse is anticipated to significantly enhance its Q2 earnings, thanks to Westinghouse’s involvement in constructing two new nuclear reactors in the Czech Republic. This development is expected to provide a substantial boost to Cameco’s EBITDA, indicating strong year-over-year growth.
Moreover, the partnership with KHNP suggests further opportunities for expansion and additional revenue from future projects. Despite some concerns about U3O8 spot price trends and seasonality, the overall outlook remains positive, supported by burgeoning AI optimism and the potential for a new industrial revolution in the U.S. As a result, Johnson maintains a Buy rating, with a target price reflecting a moderate upside potential.
Johnson covers the Technology sector, focusing on stocks such as SolarEdge Technologies, Enphase Energy, and First Solar. According to TipRanks, Johnson has an average return of -5.6% and a 55.69% success rate on recommended stocks.
In another report released yesterday, Goldman Sachs also maintained a Buy rating on the stock with a $78.00 price target.