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Bank of America upgrades uranium name Cameco amid renewed interest in nuclear

Cameco is one of the world's largest publicly traded uranium companies.
Courtesy: Cameco

Uranium miner Cameco Corporation should benefit from strength in the metal's price as nuclear power's role in decarbonization is reconsidered, according to Bank of America.

The firm upgraded the stock to buy from neutral Wednesday, saying shares can rally nearly 30% from current levels.

The stock was up more than 7% by 11 a.m. ET on Wall Street.

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