The Globe and Mail reports in its Friday, Sept. 25, edition that TD Cowen analyst Craig Hutchison has reaffirmed his "buy" recommendation and $190 share target for Cameco. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $182.59. Mr. Hutchinson says in a note: "The Port Hope facility is Canada's only uranium conversion facility and one of just two in North America. The facility produces both UF6 [uranium hexafluoride] for light water reactors and UO2 [uranium dioxide]for CANDU reactors domestically. The UF6 plant has a design capacity of 12.5M kgU, and produced a record 11.2M kgU in 2025. The company is targeting 2026 output of 13–14M kgU from its Port Hope fuel services business, broadly in line with 2025 production. Its current priorities are improving operational efficiency, controlling costs and ramping output toward full design capacity as the global outlook for light-water reactors strengthens. ... Cameco remains one of the very few ways to invest in a publicly traded producing uranium miner, and, in our view, it is the most attractive way for investors to add uranium leverage to their portfolios."