12:25 PM EDT, 03/12/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Uranium spot prices have recently weakened to mid-$90s levels, according to industry data, after reaching a milestone of $100/lb in January for the first time since 2007. CCO shares have also moderated, reflecting the sensitivity of CCO's share price to changes in uranium prices. Accordingly, we lower our 12-month target by CAD6 to CAD61, reflecting a 2024 price/sales ratio of 8.7x, a premium to CCO's historical average. Our Hold opinion is based on our view that CCO's valuation reflects expectations for significant margin and earnings expansion within a stronger uranium pricing landscape. We lower our 2024 EPS estimate by CAD0.52 to CAD1.20 and raise our 2025 estimate CAD0.40 to CAD2.22. While potentially disruptive to industry dynamics, we think the recent Bill proposing a ban on U.S. imports of Russian uranium, which cleared the House of Representatives in December, could ultimately benefit CCO's competitive positioning in the U.S. and abroad.