RBC Capital Hikes Cameco Corp Price (CCJ) Target on Uranium and Nuclear Opportunities

Cameco Corporation (NYSE:CCJ) is one of Goldman Sachs’ top energy stock picks. On June 20, RBC Capital reiterated an ‘Outperform’ rating on the stock. The research firm also increased its price target of the stock to C$100 from C$90.

RBC Capital Hikes Cameco Corp Price (CCJ) Target on Uranium and Nuclear Opportunities

A line of workers at an industrial fuel cell power plant, the sun setting behind them.

The price target hike underscores RBC Capital’s conviction that Cameco is well-positioned to benefit from accelerating growth in the nuclear industry. Additionally, the firm expects the company to benefit from a tight uranium market, as it owns low-cost, tier-one assets that continue to operate efficiently.

A strategic partnership with Westinghouse positions Cameco to be a key beneficiary of emerging opportunities in the nuclear industry. RBC Capital also pointed out Westinghouse’s “mutually beneficial cooperation with Korean nuclear builders expected to present strategic opportunities that Cameco can capitalize on.”

Cameco Corporation (NYSE:CCJ) is a global provider of uranium fuel for nuclear power plants. It is one of the world’s largest uranium producers, with operations spanning the nuclear fuel cycle, from exploration and mining to refining, conversion, and fuel manufacturing.

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Disclosure: None.