Desjardins Lowers FY2026 Earnings Forecast for Cameco but Maintains Buy Rating

Desjardins has revised its FY2026 earnings projection for Cameco, lowering it from $2.10 per share to $1.93, while maintaining a "Buy" rating and a target price of $110.00. Meanwhile, several other financial institutions have increased their target prices for Cameco, with Scotiabank and Royal Bank of Canada both setting a C$110.00 target, and some estimates reaching up to C$115.00. Shares of Cameco opened at C$100.63, with a 52-week high of C$110.85 and a low of C$48.71. Market analysts continue to favor the stock, with nine recommending a buy and four indicating a strong buy, resulting in a consensus rating of "Buy" and an average target price of C$103.85. The company operates primarily in uranium exploration, mining, and processing, serving as a key player in nuclear energy supply. Despite recent adjustments, Cameco remains a prominent option for investors interested in the uranium sector.