Cameco price target raised to C$96 from C$88 at Raymond James

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.