Cameco price target raised to $55.50 from $51 at BofA

BofA raised the firm’s price target on Cameco to $55.50 from $51 and keeps a Buy rating on the shares. Uranium prices are currently trading at a 15-year high of $92 per pound given an increasingly tight spot market and the firm is constructive on prices as it expects the market to remain tight into 2025. With a broad, tier 1 nuclear fuel offering, BofA sees Cameco as well placed to benefit from nuclear energy growth, the analyst tells investors.