CLSA Bullish on Cameco (CCJ) as Uranium Producer Benefits From Long-Term Reactor Growth

Cameco Corporation (NYSE:CCJ) ranks among the best fast growth stocks to buy now. On September 9, CLSA initiated an Outperform rating on Cameco Corporation (NYSE:CCJ), with a price target of $102. CLSA identified growing demand for nuclear energy as a major tailwind for the uranium producer, given that nuclear reactors can run for up to a century and directly contribute to Cameco’s profit margins.

CLSA also praised Cameco’s solid environmental, social, and governance (ESG) performance, citing the company’s “holistic corporate actions.”

The firm noted that there were possible threats to its optimistic outlook, such as the potential for a nuclear accident that would impact the entire industry, operational difficulties unique to Cameco Corporation (NYSE:CCJ), and geopolitical concerns.

Cameco Corporation (NYSE:CCJ) focuses on the exploration, mining, refining, conversion, and manufacture of uranium concentrate, supplying the global nuclear energy industry through its Uranium and Fuel Services divisions.

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Disclosure: None. This article is originally published at Insider Monkey.