RBC Capital lowered the firm’s price target on Cameco (CCJ) to C$150 from C$160 but keeps an Outperform rating on the shares. The firm’s visit to the Vogtle 3&4 nuclear reactors in Georgia, hosted by Cameco and Southern Company, helped RBC gain an appreciation for the advancements incorporated into the Westinghouse AP1000 design, the analyst tells investors in a research note. RBC adds however that its price target cut is due to slightly higher uranium and fuel services costs that better align with recent cost trends.
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