Cameco initiated with a Buy at Goldman Sachs

Goldman Sachs analyst Neil Mehta initiated coverage of Cameco with a Buy rating and $55 price target, implying 30% upside from current levels. The analyst says Cameco is one of the world’s largest nuclear fuel suppliers, with operations in Canada, United States, Kazakhstan and Australia. The stock provides investors with an attractive way to gain exposure to the entire uranium/nuclear fuel value chain in an environment where increased demand and higher prices should lead to meaningful estimate revisions, the analyst tells investors in a research note.