Bank of America Forecasts Strong Price Appreciation for Cameco (TSE:CCO) Stock

Cameco (TSE:CCO) (NYSE:CCJ) had its target price boosted by Bank of America from C$93.00 to C$106.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. Bank of America‘s target price would indicate a potential upside of 16.93% from the company’s current price.

Several other research analysts have also commented on CCO. Raymond James boosted their price objective on Cameco from C$83.00 to C$88.00 and gave the stock an “outperform” rating in a report on Monday. TD Securities lifted their price target on Cameco from C$77.00 to C$100.00 and gave the stock a “buy” rating in a research note on Monday. Canaccord Genuity Group increased their price target on shares of Cameco from C$83.50 to C$92.00 and gave the company a “buy” rating in a research report on Monday. Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. Finally, BMO Capital Markets increased their price target on shares of Cameco from C$85.00 to C$95.00 and gave the company an “outperform” rating in a research report on Monday. Eight equities research analysts have rated the stock with a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, Cameco has an average rating of “Buy” and a consensus target price of C$92.92.

Cameco Trading Up 3.8%

Shares of CCO opened at C$90.65 on Tuesday. The business’s 50-day moving average price is C$68.69 and its 200-day moving average price is C$69.99. Cameco has a twelve month low of C$48.71 and a twelve month high of C$93.22. The stock has a market cap of C$39.90 billion, a PE ratio of 342.50, a P/E/G ratio of 2.22 and a beta of 0.90. The company has a quick ratio of 3.74, a current ratio of 2.88 and a debt-to-equity ratio of 20.35.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.