In a report released today, Lawson Winder from Bank of America Securities reiterated a Buy rating on Cameco, with a price target of C$130.00.
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Lawson Winder has given his Buy rating due to a combination of factors that highlight Cameco’s strategic positioning and growth potential. Despite a recent announcement of an 8% to 11% reduction in its 2025 uranium production guidance due to challenges at the McArthur River mine, Winder sees Cameco as well-positioned to benefit from rising uranium prices. This is attributed to Cameco’s significant role in global uranium production, which allows it to leverage price increases even when facing operational setbacks.
Additionally, Winder emphasizes the promising future growth prospects stemming from Cameco’s 49% interest in Westinghouse Electric Company, a key player in next-generation nuclear reactors. He also notes Cameco’s disciplined approach to uranium supply contracting and its advantageous position in a tightening uranium market. These factors have led to an increase in the target EV/EBITDA multiples and a raised price objective, reinforcing the Buy rating.
In another report released on August 24, TR | OpenAI – 4o also upgraded the stock to a Buy with a C$115.00 price target.