RBC Capital Markets raised its price target on Cameco Corp. (CCO.TO, CCJ) to $100 from $90.
Analyst Andrew D. Wong maintained an Outperform rating on shares of the Saskatchewan-based uranium company.
"We believe Cameco is uniquely well-positioned to benefit from accelerating growth in the nuclear industry and a tight uranium market," Wong said in a note to clients.
"In particular, we think Westinghouse has a pole position within the nuclear industry with a ubiquitous nuclear services business, widely considered large reactor design in the AP1000, and a mutually beneficial partnership with Korean nuclear builders," the analyst said.
"Cameco's uranium mines are also considered low-cost tier 1 assets that continue to operate well."
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