GLJ Research analyst Gordon Johnson maintained a Buy rating on Cameco (CCJ – Research Report) today and set a price target of $75.68.
Gordon Johnson’s rating is based on Cameco’s impressive financial performance and strategic positioning in the uranium market. The company recently reported better-than-expected fourth-quarter results, with adjusted earnings per share and EBITDA surpassing consensus estimates. This strong performance reflects Cameco’s ability to manage costs effectively and capitalize on market opportunities.
Moreover, Cameco’s guidance for 2025 aligns with market expectations, with a robust outlook for uranium production and sales. The company’s long-term contracts have increased, and its role as a low-cost producer positions it well to benefit from the global push for decarbonization and energy independence. Despite recent volatility in uranium stocks, Johnson believes that the market’s bearish narratives are overstated, and Cameco’s fundamentals remain strong, justifying the Buy rating.
According to TipRanks, Johnson is an analyst with an average return of -5.5% and a 56.54% success rate. Johnson covers the Technology sector, focusing on stocks such as Canadian Solar, Enphase Energy, and JinkoSolar.
In another report released today, Stifel Nicolaus also initiated coverage with a Buy rating on the stock with a C$90.00 price target.
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