Cameco (CCJ – Research Report), the Energy sector company, was revisited by a Wall Street analyst today. Analyst Alexander Pearce from BMO Capital reiterated a Buy rating on the stock and has a C$95.00 price target.
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Alexander Pearce has given his Buy rating due to a combination of factors influencing Cameco’s positive outlook. The recent deal between KHNP and the Czech Republic is expected to significantly boost Cameco’s EBITDA by US$170M, as it holds a 49% share in Westinghouse. This agreement is anticipated to enhance Cameco’s financial performance in the upcoming quarters, particularly in Q2 and throughout 2025, with a notable increase in EBITDA growth.
Furthermore, the growing global sentiment towards nuclear energy and the strategic positioning of Cameco as a leading uranium supplier contribute to its favorable market position. The company’s geographical advantages and vertical integration are expected to capitalize on the increasing demand for nuclear power, thereby supporting its long-term growth prospects. Consequently, Pearce has raised the target price to C$95, reinforcing Cameco as a top pick in the uranium sector.
According to TipRanks, Pearce is a 4-star analyst with an average return of 11.0% and a 54.96% success rate. Pearce covers the Basic Materials sector, focusing on stocks such as Champion Iron, Labrador Iron Ore, and Atalaya Mining.
In another report released on June 2, Bank of America Securities also reiterated a Buy rating on the stock with a $66.00 price target.