TD Newcrest Securities Upgrades Cameco Corp. (CCJ) to Buy
More News related to CCJ
- IR Global Rankings 2009: Invitation for Investors and Analysts to Vote for Companies with the Best IR Program
- IR Global Rankings 2009: Final Registration Deadline Is Today - November 28, 2008
- Notable Analyst Rating Changes 11/28: THC, STD, FRO Upgraded; CHU, BCE, OVTI Downgraded
- Cameco (CCJ) Suspending Uranium Hexafluoride Production at Port Hope Plant
- Cameco Temporarily Suspends UF6 Production in Port Hope
More News related to Upgrades
- BMO Upgrades Spectrum Brands (SPC) to Market Perform
- Maxim Upgrades Palomar Medical (PMTI) to Buy
- RBC Capital Upgrades DSP Group (DSPG) to Sector Perform
- UBS Upgrades Morgans Hotel Group (MHGC) to Buy
- Janney Montgomery Scott Upgrades Wright Express Corp (WXS) to Buy.
TD Newcrest Securities upgrades Cameco Corp. (NYSE: CCJ) from Hold to Buy, but lowers price target from CDN$38 to CDN$30.
NewCrest analyst says, "We have lowered our target price for Cameco to C$30.00 from C$38.00 based on our reduced uranium price forecasts for the next several years. In addition we have lowered our target multiples, although we continue to use higher multiples for Cameco than other mining companies in our coverage universe given its commanding global position in the uranium market. We have upgraded our recommendation to BUY from Hold as we expect that Cameco should be a safe haven during a period of extreme turmoil given its legacy uranium sales contracts and the relatively inelastic demand for uranium."
Cameco Corporation (Cameco) is a Canada-based company. The Company operates in four segments: uranium, fuel services, nuclear electricity generation and gold.
Related Categories
UpgradesStocks Mentioned
-0.55Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
