The Globe and Mail reports in its Thursday, Jan. 12, edition that Raymond James analyst Brian MacArthur has reaffirmed his "outperform" recommendation for Cameco. The Globe's David Leeder writes that Mr. MacArthur has updated his forecast to account for realized uranium prices in the fourth quarter. Accordingly, Mr. MacArthur trimmed his share target to $44 from $43. Analysts on average target the shares at $44.40. Mr. MacArthur says in a note: "We believe Cameco provides investors with lower-risk exposure to the uranium market given its diversification of uranium sources. These sources are supported by a portfolio of long-term contracts that provide some downside protection in periods of depressed spot uranium prices, while maintaining optionality to higher uranium prices. In addition, the company has multiple operations curtailed that can be brought back should uranium prices increase. Although the 2021 tax court decision applies only to the 2003, 2005 and 2006 tax years, we view it as a positive for Cameco given we believe it will be relevant in determining the outcome for other years and reduces risk related to the CRA dispute."