Sep. 3 at 11:42 AM
$CCJ Cameco initiated with a Buy at Jefferies
Jefferies initiated coverage of Cameco with a Buy rating and
$138 price target. The company is a prime beneficiary of the West's nuclear build-out, the analyst tells investors in a research note. The firm says over 30 countries have pledged to triple capacity by 2050 while hyperscalers are contracting baseload for AI as electricity demand accelerates. As one of the largest global providers of the uranium fuel, Cameco is well positioned to secure higher contract prices into at least the end of the decade, contends Jefferies.
