The Globe and Mail reports in its Friday, Sept. 29, edition that Scotia Capital analyst Orest Wowkodaw is keeping his "sector outperform" recommendation on Cameco intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Wowkodaw's share target soared ahead $14 to a Street-high $70. Analysts on average target the shares at $57.15. Mr. Wowkodaw says the fundamental outlook for the uranium market continues to improve. He believes "the inflection point in financial performance has arrived." The Globe says Mr. Wowkodaw has boosted his earnings projections though 2025 as well as his net asset value estimate. He says in a note: "We rate CCO shares 'sector outperform' based on improving fundamentals driven by the dual Western World agendas of decarbonization and energy independence. Given heightened global geopolitical risks, we anticipate Cameco and WEC to be prime beneficiaries of Russian replacement demand for U3O8 and nuclear services. Our revised 12-month target is based on a 50/50 weighting of 20 times 2025 estimated EV/EBITDA and two times our 8-per-cent NAVPS. The higher multiple reflects scarcity in a rising price environment. Cameco remains a Top Pick."