Cameco initiated with a Buy at Janney Montgomery Scott

Janney Montgomery Scott initiated coverage of Cameco with a Buy rating and $60 fair value estimate. The firm recommends buying shares in the global nuclear fuel and services company as it thinks Cameco is well positioned to generate strong EBITDA and free cash flow, create increasing long-term value from its assets, and return cash to shareholders as it capitalizes on a structurally undersupplied market amidst increasing demand.