Cameco initiated with a Buy at Desjardins

Desjardins analyst Bryce Adams initiated coverage of Cameco (CCJ) with a Buy rating and C$86 price target The firm is “constructive” on the uranium space. There is potential upside as uranium is essential to global decarbonization efforts at a time when supply has been challenged and new assets face permitting and ramp-up milestones before reaching steady-state production rates, the analyst tells investors in a research note. For exposure to uranium fundamentals, Desjardins views Cameco as a core position for investors.