Raymond James Raises its Price Target on Cameco Corporation (CCJ) to C$165 While Keeping an Outperform Rating

Cameco Corporation (NYSE:CCJ) is included among the 12 Best Nuclear Energy Stocks to Buy Now

On January 15, 2026, Raymond James analyst Brian MacArthur raised the firm’s price target on Cameco Corporation (NYSE:CCJ) to C$165 from C$150 while keeping an Outperform rating. The move came as part of a broader mining update.

On January 7, 2026, Bernstein also adjusted its view, lifting its price target on Cameco to $101 from $100 and reiterating an Outperform rating. The firm pointed to a higher uranium price deck as the primary driver behind the update.

The growth in nuclear generation has tightened the market for uranium, resulting in rising uranium prices. Based on CCJ’s data, Uranium Spot Price reached $81.55 by the end of 2025, over 10% higher year-on-year. CCJ sold 33.6 million pounds of uranium in 2024, among the largest globally.

On November 25, 2025, Reuters reported that Canada and India were nearing a 10-year uranium supply agreement valued at $2.8 billion. If finalized, the deal would position Cameco Corp. as a long-term supplier to India’s expanding nuclear fleet, adding another layer of demand visibility.

Cameco Corporation (NYSE:CCJ) is one of the world’s largest uranium suppliers, with operations anchored by high-grade reserves and low-cost production. The company also maintains exposure across the nuclear fuel cycle through strategic investments, including stakes in Westinghouse Electric Company and Global Laser Enrichment.

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Disclosure: None.