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Uncertain future for Japan’s nuclear industry affects Cameco’s grading

Bank of America Downgrades Cameco on Lower Uranium Forecast Dwight Einhorn, Benzinga Staff Writer 27 Sept 13,  In a report published Friday, Bank of America analyst Oscar Cabrera downgraded the rating on Cameco Corporation (NYSE: CCJ [FREE Stock Trend Analysis]) from Buy to Neutral, and lowered the price target from $25.00 to $22.00.

In the report, Bank of America noted, “We are downgrading Cameco (CCO) to a Neutral from Buy rating, and lowering our price objective (PO) to $22/share from $25, following our commodities team downgrade of our 2013-15 uranium price forecast due to slower than expected Japanese reactor restarts after the country’s nuclear accident at Fukushima in March 2011……. http://www.benzinga.com/analyst-ratings/analyst-color/13/09/3947890/update-bank-of-america-downgrades-cameco-on-lower-uraniu#ixzz2gDw46reS

September 28, 2013 - Posted by | business and costs, Uranium

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