Scotiabank Just Hiked Cameco Price Target to $175 as the Nuclear Renaissance Accelerates

Cameco (NYSE:CCJ) banal conscionable earned a caller ballot of assurance from Bay Street. Scotiabank expert Orest Wowkodaw raised his CCJ banal terms people to $175 from $150, keeping an Outperform standing aft a quarterly update helium characterized arsenic affirmative fixed higher estimates. The takeaway for prudent investors: the Western atomic renaissance is shifting from thesis to policy-backed physique cycle, and Cameco sits astatine the halfway of it.

Cameco shares commercialized astatine $120 and change, with the banal up 32% twelvemonth to day (YTD) and 151% implicit 1 year. Scotiabank's caller people sits supra the statement mean of $150.40.

The Analyst's Case

Wowkodaw's bullish stance connected Cameco rests connected improving fundamentals tied to Western World agendas of decarbonization, vigor independence, and powerfulness security. Those 3 priorities present determination together, with governments backing atomic capableness to chopped emissions, trim reliance connected adversarial substance suppliers, and unafraid baseload powerfulness for AI-era information centers.

The expert who called NVIDIA successful 2010 conscionable named his apical 10 stocks and Cameco wasn't 1 of them. Get them present FREE.

The supply-demand setup reinforces the call. Uranium accumulation is long-cycle, secondary supplies person thinned, and hyperscaler powerfulness acquisition agreements (think Microsoft's (NASDAQ:MSFT) Three Mile Island restart and Amazon's (NASDAQ:AMZN) Talen deal) person moved atomic from inheritance enactment to strategical fuel.

Company Snapshot

Cameco is the largest publically traded pure-play uranium shaper successful the Western world, with high-grade Canadian assets and a planetary declaration book. Its 49% involvement successful Westinghouse Electric Company, held jointly with Brookfield, extends its scope into reactor services and caller builds.

The company's Q1 2026 results, released May 5, showed adjusted EPS of $0.47 and nett of $131 million, up from $70 cardinal a twelvemonth earlier. Cameco besides signed a $2.6 cardinal CAD uranium proviso statement with India spanning 2027-2035, reinforcing multi-year gross visibility.