The Conversation (0)
The Financial Post reported that TD Securities analyst Greg Barnes raised his target price on Cameco Corp for the first time since Fukushima.
The Financial Post reported that TD Securities analyst Greg Barnes raised his target price on Cameco Corp for the first time since Fukushima. Barnes has set his 12-month outlook on the stock higher at $22, up from $20.
According to the report:
He increased his target EV/EBITDA multiple on Cameco to 12x from 11x to reflect increasing confidence in uranium market fundamentals, which are primarily a result of supply discipline.
Mr. Barnes also believes the price of uranium likely established a bottom in the mid-US$30 per pound range.