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CCJ

Cameco

$10.36

-0.205 (-1.94%)

, URRE

Uranium Resources

$1.48

0.03 (2.07%)

15:11
07/31/17
07/31
15:11
07/31/17
15:11

Uranium maker Cameco falls after Scana cancels nuclear plans

Shares of uranium maker Cameco (CCJ) are falling after Scana's (SCG) principal subsidiary, South Carolina Electric & Gas Company, SCE&G, announced earlier that it's not moving ahead with its long delayed construction of a pair of new nuclear units at the V.C. Summer Nuclear Station in Jenkinsville, SC. SCE&G pointed out the additional costs and uncertainty of tax credits as reasons for abandoning the projects. URANIUM PRODUCER: Cameco describes itself as "one of one of the world's largest uranium producers providing about 17% of the world's production from mines in Canada, the US and Kazakhstan." Uranium, one of the heaviest metals, is essential in powering nuclear reactors that produce electricity. URANIUM DEMAND IN QUESTION: In mid-July, Credit Suisse analyst Robert Reynolds downgraded Cameco to Underperform from Neutral as his cataloguing of nuclear power plants drove his forecast for uranium demand below current industry expectations. The analyst reduced his longer-term price for uranium to $40/lb based on the 90th percentile of the cost curve, from a prior forecast for $60/lb based on an incentive price. Reynolds also lowered his price target on Cameco shares to C$10 from C$13.50. PRICE ACTION: Shares of Cameco are down 2.4% to $10.31 in afternoon trading. OTHERS COMPANIES LEVERED TO NUCLEAR REACTOR SPACE: Uranium Resources (URRE) and BWX Technologies (BWXT).

CCJ

Cameco

$10.36

-0.205 (-1.94%)

URRE

Uranium Resources

$1.48

0.03 (2.07%)

BWXT

BWX Technologies

$52.61

-0.36 (-0.68%)

SCG

Scana

$64.27

2.975 (4.85%)

  • 08

    Aug

CCJ Cameco
$10.36

-0.205 (-1.94%)

07/18/17
07/18/17
DOWNGRADE

Underperform
Cameco downgraded to Underperform at Credit Suisse
As previously reported, Credit Suisse analyst Robert Reynolds downgraded Cameco to Underperform from Neutral as his cataloguing of nuclear power plants drives his forecast for uranium demand below current industry expectations. The analyst reduced his longer-term price to $40/lb based on the 90th percentile of the cost curve, from a prior forecast for $60/lb based on an incentive price. Reynolds also lowered his price target on the shares to C$10 from C$13.50.
06/29/17
RBCM
06/29/17
INITIATION
RBCM
Outperform
Cameco initiated with an Outperform at RBC Capital
RBC Capital analyst Andrew Wong started coverage of Cameco with a $16 price target and an Outperform rating. The analyst thinks that the company is poised to benefit from a long-term recovery in uranium prices. He thinks that the company's "operational efficiencies" will support its dividends and enable its free cash flow to grow in the near-term.
06/30/17
BOFA
06/30/17
DOWNGRADE
BOFA
Underperform
Cameco downgraded to Underperform from Neutral at BofA/Merrill
07/17/17
FBCO
07/17/17
DOWNGRADE
FBCO
Underperform
Cameco downgraded to Underperform from Neutral at Credit Suisse
URRE Uranium Resources
$1.48

0.03 (2.07%)

BWXT BWX Technologies
$52.61

-0.36 (-0.68%)

06/09/17
FBCO
06/09/17
INITIATION
Target $51
FBCO
Neutral
BWX Technologies initiated with a Neutral at Credit Suisse
Credit Suisse analyst Robert Springarn initiated BWX Technologies with a Neutral and a $51 price target saying the Navy's ambitious funding plan is nearly reflected in valuation.
06/09/17
06/09/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Mindbody (MB) initiated with an Overweight at JPMorgan. 2. Alarm.com (ALRM) initiated with an Outperform at Northland. 3. First Mid-Illinois Bancshares (FMBH) initiated with a Neutral at DA Davidson. 4. Integrated Device (IDTI) initiated with a Buy at Longbow. 5. BWX Technologies (BWXT) initiated with a Neutral at Credit Suisse. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
03/21/17
BOFA
03/21/17
UPGRADE
Target $55
BOFA
Buy
BWX Technologies upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill analyst Ronald Epstein upgraded BWX Technologies to Buy and raised its price target to $55 from $43. The analyst said BWX is the sole provider of nuclear reactors to the US Navy and is a significant beneficiary of defense spending to support a 355-ship Navy. Epstein raised his 2016a-2020 sales growth estimate to 8% CAGR from 5% to reflect medium-term Navy shipbuilding opportunities.
04/05/17
RHCO
04/05/17
NO CHANGE
RHCO
Defense stocks likely to be weak in short-term, says SunTrust
SunTrust analyst Michael Ciarmoli says that "ongoing discord" in Washington, including animus over the confirmation of Judge Gorsuch, will cause defense stocks to undergo "short-term selling pressure and multiple compression." The analyst says that the conflict between the parties and clashes over the budget could derail the Trump Administration's defense spending goals. Additionally, he says that a lack of funds could force Congress to cut the funds appropriated to some defense programs. Nevertheless, the analyst is upbeat on the sector over the longer tyerm ,citing the need to update aging equipment and elevated threat levels. He thinks that any short-term weakness should be viewed by longer term investors as a buying opportunity. The analyst keeps Buy ratings on Aerojet Rocketdyne (AJRD), BWX Technologies (BWXT), Kratos Defense (KTOS), Mercury Systems (MRCY), and Orbital ATK (OA),
SCG Scana
$64.27

2.975 (4.85%)

03/03/17
UBSW
03/03/17
UPGRADE
Target $77
UBSW
Buy
SCANA upgraded to Buy from Neutral at UBS
UBS analyst Julien Dumoulin-Smith upgraded SCANA to Buy and raised its price target to $77 from $75 saying shares have underperform on Toshiba concerns. The analyst said Toshiba concerns have largely reached an apex for now and believes Q1 updates indicate the latest delay will actually be quite modest. He believes the most recent actions by Toshiba to sell off other businesses rather than addressing the Westinghouse business head-on following the $6B writedown in December gives him confidence on its implicit commitment.
07/20/17
GSCO
07/20/17
UPGRADE
Target $66
GSCO
Neutral
Scana upgraded to Neutral from Sell at Goldman Sachs
Goldman Sachs analyst Michael Lapides upgraded Scana to Neutral saying construction and cost concerns are now priced into the shares. The analyst raised his price target for the stock to $66 from $64.
07/28/17
GABE
07/28/17
DOWNGRADE
GABE
Hold
Scana downgraded to Hold from Buy at Gabelli
Gabelli downgraded Scana to Hold to reflect increased concern the company abandons the construction of VC Summer Nuclear Power Plant units 2 & 3.
07/28/17
GUGG
07/28/17
DOWNGRADE
GUGG
Sell
Scana downgraded to Sell from Buy at Guggenheim

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CEL

Cellcom Israel

$10.00

-0.1 (-0.99%)

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$4.07

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CPRT

Copart

$41.01

4.31 (11.74%)

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  • 19

    Dec

DE

Deere

$145.25

6.02 (4.32%)

06:56
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  • 28

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$145.25

6.02 (4.32%)

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SECO

Seeco Holding

$8.34

0.14 (1.71%)

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BASFY

BASF

$27.39

-0.13 (-0.47%)

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RBS

RBS

$7.30

-0.04 (-0.54%)

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Loews

$49.36

-0.02 (-0.04%)

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Suncor

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SAP

$113.85

-1.44 (-1.25%)

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