Cameco Price Target Raised By $5 at National Bank of Canada

10:45 AM EDT, 08/22/2025 (MT Newswires) -- Cameco's (CCJ) price target was increased to C$115 from $110 while its Outperform rating remained unchanged at National Bank of Canada, according to a note published Thursday in which the bank re-values Westinghouse inside Cameo and addresses "unlocking the hidden multiple".

While some of the nuclear "hype" has been priced into the stock, National Bank believes the full upside from Cameco's (CCJ) Westinghouse operation is not yet fully reflected in the stock.

National Bank increased the price target as it took a deeper look at its model for Westinghouse to derive a valuation for the business using a more detailed, bottom-up approach.

The bank said its updated DCF for the company reflects opportunities that it views as credible, including reactors under construction, planned and proposed AP1000 reactors, as well as Korea's APR1400/1000 opportunity.

Cameco (CCJ) traded near 4% higher at last look Friday to $103.26 on the TSX.

Price: 102.68, Change: +3.40, Percent Change: +3.42

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.