Diamond Member Pelican Press 0 Posted April 1 Diamond Member Share Posted April 1 Buy this nuclear energy play with more than 25% upside, Goldman says Investors should load up on Cameco shares to take advantage of growing uranium demand, according to Goldman Sachs. The bank initiated coverage of the Canada-based uranium producer, one of the largest in the world, with a buy rating and a $55 per share price target. That forecast implies 27% upside from Thursday’s close. “We believe that shares of Cameco provide investors with an attractive means to gain exposure to the entire Uranium/Nuclear fuel value chain in an environment where increased demand and higher prices should lead to meaningful estimate revisions by consensus,” analyst Neil Mehta said in a note. The analyst said U.S. spot uranium prices could average $95 per pound over the next seven years, which is roughly 170% higher than historical average from 2013 to 2023. Mehta’s price forecast for uranium is “supported by a combination of meaningful supply deficit and a mis-calibration of enrichment requirement assumptions that is potentially understating demand.” CCJ YTD mountain Cameco stock has added more than 7% in 2024. Mehta also noted that global uranium sourcing could shift further toward Canada, “driven by increasing focus on de-risking supply as a result of geopolitical challenges, particularly for the US and France, together comprising ~35% of global demand.” This would, in turn, give Cameco a boost. U.S.-listed shares of Cameco were up more than 4% on the day. For the year, they have gained more than 5%. This is the hidden content, please Sign In or Sign Up Investment strategy,Markets,Cameco Corp,Cameco Corp,business news #Buy #nuclear #energy #play #upside #Goldman This is the hidden content, please Sign In or Sign Up Link to comment https://hopzone.eu/forums/topic/9555-buy-this-nuclear-energy-play-with-more-than-25-upside-goldman-says/ Share on other sites More sharing options...
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