RBC Capital analyst Andrew Wong raised the firm’s price target on Cameco (CCJ) to C$160 from C$150 and keeps an Outperform rating on the shares. Uranium market fundamentals remain tight and the firm expects continued improvements in contracting activity and prices through 2026, the analyst tells investors in a research note. RBC further notes the accelerating momentum in nuclear new builds, with greater opportunities for new builds and potential to pull-forward business as governments and industries work to accelerate construction.
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