Cameco price target raised to C$105 from C$85 at Desjardins

Desjardins raised its price target on Cameco Corp . (TSX:CCO) (NYSE:CCJ) stock to C$105.00 from C$85.00 on Tuesday, while maintaining a Buy rating on the uranium producer. The stock, currently trading at $69.36, has shown remarkable momentum, gaining 8.66% in the past week alone.

The price target increase follows model updates that factor in a previously announced one-time EBITDA increase of US$170 million attributable to Cameco from Westinghouse Electric’s participation in the Dukovany power plant.

Desjardins also incorporated a 50% probability of a similar event occurring in 2026, contributing to the higher valuation for the uranium company.

The research firm noted that the uranium sector has experienced recent share appreciation, with Cameco leading the group in performance.

Desjardins considers Cameco a "go-to name for uranium investors," reinforcing its continued Buy recommendation alongside the substantial price target increase.

In other recent news, Cameco Corporation has seen a series of analyst upgrades and positive developments. BMO Capital Markets raised its price target for Cameco to C$95.00, citing a significant deal with Korea Hydro & Nuclear Power that is expected to enhance Cameco’s earnings before interest, taxes, depreciation, and amortization (EBITDA) by US$170 million. This deal is projected to contribute to a strong second quarter, with Cameco’s EBITDA forecasted to grow by 51% year-over-year. Similarly, Raymond (NSE:RYMD) James increased its price target for Cameco to Cdn$96.00, maintaining an Outperform rating due to the company’s strategic position in the uranium market and favorable tax court rulings.

Goldman Sachs also resumed coverage of Cameco, issuing a Buy rating and setting a 12-month price target of C$89.00, highlighting a projected 27% upside. The firm emphasized Cameco’s potential for growth in nuclear demand and pricing benefits, as well as the value expected from its subsidiary, Westinghouse. Additionally, Cameco’s assets are noted to contribute to 25% of global uranium production, with significant future growth anticipated.

These recent developments reflect a growing confidence in Cameco’s strategic positioning and future earnings potential within the nuclear energy sector.

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