CLSA Starts Cameco Corporation (CCJ) at Outperform (2)

CLSA analyst Max Hopkins initiates coverage on Cameco Corporation (NYSE: CCJ) with a Outperform (2) rating and a price target of $102.00.

The analyst comments: "We initiate coverage of Cameco with an Outperform rating. The tailwinds of the expanding nuclear theme, WEC's long-life profits (reactors operating at a century) directly to margins and assumption that higher multiples Cameco has realised are now normal justify our 45x PE applied to FY27CL (year-end Dec) EPS of C$3.14 (25% above consensus) to derive our target price of US$102. Cameco scores well in its ESG criteria given holistic corporate actions taken. The largest risks are a nuclear energy accident derailing the entire theme and Cameco-specific risks include operational issues and geopolitical tensions."

For an analyst ratings summary and ratings history on Cameco Corporation click here. For more ratings news on Cameco Corporation click here.

Shares of Cameco Corporation closed at $77.24 yesterday.

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