GLJ raises Cameco price target, would be ‘aggressively adding’

GLJ Research raised the firm’s price target on Cameco (CCJ) to C$75.68 from C$60.51 and keeps a Buy rating on the shares. The firm views Cameco’s growth guidance at Westinghouse as “conservative” and believe management is setting up to beat expectations, while adding that it believes that “U3O8 bears are ill-informed.” After the recent sharp selloff, the firm “would be aggressively adding to Cameco shares,” the analyst tells investors.