Cameco initiated with an Outperform at Bernstein

Bernstein analyst Bob Brackett initiated coverage of Cameco (CCJ) with an Outperform rating and $52 price target The firm says nuclear power will be of increasing importance for power generation. Cameco is an integrated nuclear company and a dominant uranium producer, the analyst tells investors in a research note. Bernstein believes the shares are undervalued on the recent price pullback. Cameco has a number of near-term and long-term catalysts to re-rate the stock, it contends.