Lawson Winder, an analyst from Bank of America Securities, maintained the Buy rating on Cameco. The associated price target remains the same with C$175.00.
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Lawson Winder has given his Buy rating due to a combination of factors including the strategic advantages of Cameco’s subsidiary, Westinghouse Electric Company (WEC), and its AP1000 Generation 3+ reactor. The AP1000 is noted for its superior design, featuring a compact footprint, simplified construction, and a passive safety system that allows it to shut down without external power or operator intervention. Despite past challenges with cost overruns and delays, the experience at the Vogtle Units 3&4 has resolved significant new-build risks, positioning the AP1000 as a globally competitive option.
Additionally, Cameco’s strong position in tier 1 uranium production within Canada further supports its potential to capitalize on the growing demand for nuclear energy. The elimination of regulatory and technical risks associated with the AP1000, coupled with the company’s robust market presence, underpins Winder’s confidence in maintaining a Buy rating for Cameco’s stock.
In another report released on November 15, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a C$133.00 price target.