Cameco rises as Westinghouse targets a $50 billion IPO valuation
+1.76% to $93.23 from $91.62
What moved CCJ
- Westinghouse Electric, the reactor-technology company 49%-owned by Cameco and 51%-owned by Brookfield Renewable, is seeking a valuation of more than $50 billion in a US IPO that could be filed as soon as October.
- At that valuation, Cameco’s 49% stake in Westinghouse would be worth more than $24.5 billion.
- UBS upgraded Cameco shares, citing the IPO filing and its implications for the value of Cameco’s Westinghouse stake.
- Analysts said Cameco is expected to raise its dividend if it returns proceeds from any Westinghouse stake sale to shareholders.
Sources: Bloomberg · The Motley Fool · Simply Wall St · The Globe and Mail