Raymond James Bullish on Cameco (CCJ) Due to Structural Appeal of Copper and Uranium

Cameco Corporation (NYSE:CCJ) is one of the best AI energy stocks to buy now.

On January 15, 2026, Cameco Corporation (NYSE:CCJ) saw Raymond James raise its price target from C$150 to C$165, reiterating an ‘Outperform’ rating. Issuing its broader mining outlook, the firm emphasized the structural appeal of copper and uranium amid tightening supply-demand dynamics. The investment firm expects medium- to long-term deficits to support heightened prices, favoring producers with scale and low-cost assets. This outlook positions Cameco Corporation (NYSE:CCJ) well to benefit from both market trends and growing policy support for nuclear energy.

Meanwhile, on January 7, 2026, Bernstein raised its price target on Cameco Corporation (NYSE:CCJ) from $100 to $101, reiterating an ‘Outperform’ rating. The investment firm attributed its bullish stance to uranium’s tightening supply, rising term prices, and policy-driven nuclear expansion. Furthermore, the firm cited nuclear as a stable AI proxy to power data centers. Analysts expect structurally higher uranium prices through 2029, with term prices already above $85 per pound.

Amid this backdrop, the firm believes Cameco Corporation’s (NYSE:CCJ) broad fuel-cycle exposure, particularly its large Canadian asset base, supports the company’s growth narrative. In 2026, Bernstein expects reactor restarts, utility contracting, and government involvement to provide additional visibility for the company.

Cameco Corporation (NYSE:CCJ) focuses on uranium exploration, mining, milling, and fuel services. It offers low-cost, large-scale uranium production and full-cycle nuclear fuel solutions to global utilities and energy markets.

While we acknowledge the potential of CCJ to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CCJ and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.