Raymond James raised the firm’s price target on Cameco (CCJ) to C$96 from C$88 and keeps an Outperform rating on the shares. Cameco recently announced an expected increase of about $170M for its 49% equity share of Westinghouse’s Q2 and annual adjusted EBITDA, the analyst tells investors in a research note. Cameco also expects significant financial benefits for Westinghouse, as a subcontractor, over the term of the Dukovany construction project and related to the provision of the fuel fabrication services required for both reactors for a specified period, the firm says.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CCJ:
- Cameco price target raised to C$105 from C$90 at Stifel
- Cameco price target raised to $70 from $52 at Bernstein
- Cameco’s Strong Market Position and Self-Funded Growth Justify Buy Rating Amid Rising Uranium Prices
- Cameco price target raised to C$106 from C$93 at BofA
- Cameco’s Growth Potential Bolstered by Westinghouse Project and Bullish Uranium Outlook