Market Overview

UPDATE: Bank of America Lowers PO to $23 on Cameco on Lower Growth

Related CCJ
Earnings Scheduled For February 9, 2018
32 Biggest Movers From Yesterday
A Hated Commodity With Huge Upside (Seeking Alpha)

Bank of America reiterated its Buy rating on Cameco (NYSE: CCJ) but lowered its price objective from $24 to $23.

Bank of America commented, "We lowered our Cameco Corp. (CCO) price objective (PO) C$1/share to C$23, following very weak 3Q12 operating results (low uranium sales). However, we maintained a Buy rating on CCO as near term uncertainty on uranium demand is outweighed by improved fundamentals medium term (12 mos). The lower PO was driven by 5% and 1% lower 2013 EBITDA and EPS (on higher cash costs, offset by lower effective tax rate), plus a lower NAV as we incorporate McArthur River and Key Lake increased capex (offset by higher production, lower cash costs)."

Cameco closed at $18.56 on Friday.

Latest Ratings for CCJ

Oct 2017Bank of AmericaMaintainsUnderperform
Jul 2017Credit SuisseDowngradesNeutralUnderperform
Feb 2017BMO CapitalUpgradesMarket PerformOutperform

View More Analyst Ratings for CCJ
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Price Target Intraday Update Analyst Ratings


Related Articles (CCJ)

View Comments and Join the Discussion!