The Globe and Mail reports in its Thursday, April 3, edition that equity analysts at National Bank see continued geopolitical and trade uncertainty supporting a bullish outlook for precious metals. The Globe's David Leeder writes in the Eye On Equities column that National Bank analysts say in a note: "With real rates declining throughout the year, heightened geopolitical risk and central banks remaining net purchasers, we have seen gold/silver prices respond positively, up 19 per cent and 17 per cent year-to-date, respectively, and we remain bullish on the outlook for precious metal prices in the months ahead. We have updated our estimates, metals prices and FX rates to reflect the current price environment and have also increased our long-term gold and silver price forecasts to $2,500 (U.S.)/oz (was $2,200 (U.S.)/oz) and $28 (U.S.)/oz (was $27 (U.S.)/oz)." Accordingly, the National Bank analysts continue to rate Cameco "outperform." The National Bank analysts cut their share target to $81 from $87. Analysts on average target the shares at $80.70. The Globe reported on Nov. 22 that RBC Dominion Securities analyst Andrew Wong continued to rate Cameco "outperform." It was then worth $85.05.