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Investing.com -- Cameco Corp rose more than 21% on Tuesday. The government has announced an $80 billion partnership with Cameco and Brookfield to speed up construction of new Westinghouse nuclear reactors across the country.
The deal includes federal financing and permitting support for upcoming Westinghouse projects, which Brookfield and Cameco jointly own.
There will be construction of new Westinghouse reactors to expand U.S. nuclear generation and power emerging data center infrastructure for AI.
“CCJ stock is up 12-13% pre-mkt and I think over time will go way way higher,” Mizuho analysts said
Mizuho said the plan “positions Cameco as a prime beneficiary of renewed investment in nuclear power” and strengthens the company’s long-term visibility in uranium and fuel services.
The analysts noted that the initiative highlights Washington’s determination to narrow the gap with China in nuclear capacity and secure reliable domestic power sources for energy-intensive technologies.
The brokerage added that the move could accelerate Cameco’s earnings trajectory and support upside to its fuel services business, given Westinghouse’s leading reactor technology and the U.S. government’s backing.
The partnership also includes provisions to expand the U.S. nuclear workforce, incentivize component manufacturing, and evaluate options for a potential Westinghouse IPO once market conditions allow.
Mizuho said that while such a listing remains uncertain, it would help unlock value for both Brookfield and Cameco shareholders.
The analysts reaffirmed their Buy rating on Cameco and said the company remains one of the best-positioned names to capture nuclear’s revival as governments seek carbon-free energy sources.