Cameco initiated with a Buy at Stifel

Stifel initiated coverage of Cameco (CCJ) with a Buy rating and C$90 price target as the firm rolled out coverage on four uranium companies. Cameco has a “dominant market position” in uranium production and the nuclear fuel value chain best positions the company against a backdrop of rising uranium price forecasts and the benefits of opportunities amid vertical integration in the Fuel Services businesses through its 49% stake in the Westinghouse Electric, the analyst tells investors.