06:31:20 EDT Fri 31 Mar 2023
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or Name

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Cameco Corp
Symbol CCO
Shares Issued 398,317,510
Close 2022-03-31 C$ 36.41
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Globe says BMO's Pearce boosts Cameco to "outperform"

2022-04-01 08:08 ET - In the News

The Globe and Mail reports in its Friday, April 1, edition that BMO analyst Alexander Pearce has elevated his recommendation for Cameco to "outperform" from "market perform." The Globe's David Leeder writes that Mr. Pearce gave his share target a boost to $42 from $33. Analysts on average target the shares at $38.07. Mr. Pearce says in a note: "In a sector with a limited number of listed producers, Cameco's stock trades on sentiment more than most. Thus, with momentum for low carbon nuclear generation continuing to build and security of supply an increasingly important factor for utilities/governments, we think Cameco's advantageous geographical production base and its position as the largest and most liquid uranium stock means there should be further upside to its stock price. ... Support for nuclear power continues to grow, particularly in some of the more mature markets where governments are considering extending reactor lifespans or indeed reversing previous closure decisions. Both of which add incrementally to near-term demand and are underpinning increasingly positive sentiment in the sector. ... The tragic events unfolding in the Russia/Ukraine conflict has brought security of supply into sharper focus."

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