BUZZ-Cameco rises after RBC Capital Markets raises PT

Updates

** Canadian uranium supplier Cameco CCO.TO rises ~8% to C$81.2 premarket, U.S.-listed shares up 1.3% to $58.38

** RBC Capital Markets raises PT on Cameco ("outperform") to C$90 from C$75 on "higher forecasted uranium prices, increased production, and strong nuclear growth prospects"

** "We explore our updated uranium S&D outlook through to 2040 and raise our long-term uranium price to $100/lb (up from $75/lb previously)," brokerage says

** "Into 2025, supply-side risks will likely remain while contracting activity may pick up given only moderate volumes secured in 2024" - RBC Capital

** Other uranium miners also up, with Uranium Energy UEC.A up ~2.2%, Energy Fuels UUUU.A rising 1.2%, and Centrus Energy LEU.A gaining 1.3%

** Including session's gains, CCO up 42.1% YTD, while U.S.-listed shares up 35.4% YTD

(Reporting by Seher Dareen in Bengaluru)

((Seher.Dareen@thomsonreuters.com;))