Canaccord Adams Downgrades Cameco Corporation (CCJ) to Hold; Full Valuation
CCJ Hot Sheet
Rating Summary:7 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Canaccord Adams downgrades Cameco Corporation (NYSE: CCJ) from Buy to Hold. Price target lowered to C$34.
Canaccord analyst says, "We are lowering our rating on Cameco shares to HOLD due to price appreciation and reducing our 12-month target to C$34.00 (from C$35.00) based on our slightly lower valuation. Our revised C$34.00 target is based on a multiple of 1.5x our revised 10% NPV of $22.92. While we remain bullish on the medium- to long-term fundamentals for uranium, we see limited upside to Cameco shares in the near term...While Cameco is an industry leader, the company is already trading at a substantial premium to its peer group."
To see more analyst ratings on CCJ Click Here.
Cameco Corporation operates as a nuclear energy company. The company operates in four segments: Uranium, Fuel Services, Electricity, and Gold.
Canaccord analyst says, "We are lowering our rating on Cameco shares to HOLD due to price appreciation and reducing our 12-month target to C$34.00 (from C$35.00) based on our slightly lower valuation. Our revised C$34.00 target is based on a multiple of 1.5x our revised 10% NPV of $22.92. While we remain bullish on the medium- to long-term fundamentals for uranium, we see limited upside to Cameco shares in the near term...While Cameco is an industry leader, the company is already trading at a substantial premium to its peer group."
To see more analyst ratings on CCJ Click Here.
Cameco Corporation operates as a nuclear energy company. The company operates in four segments: Uranium, Fuel Services, Electricity, and Gold.
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