UBS initiated coverage of Cameco (CCJ) with a Neutral rating and C$140 price target Cameco offers strong exposure to the attractive long-term uranium market, the analyst tells investors in a research note Earnings are expected to rise as sales are re-contracted at higher spot prices and Westinghouse benefits from new nuclear builds, but given the stock’s sharp recent gains and premium valuation, the current risk/reward appears balanced despite favorable fundamentals, UBS says.
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