Jefferies initiates coverage on Cameco and BWXT with Buy ratings, citing accelerating uranium demand and small modular reactor deployments tied to AI data center power needs.

Jefferies initiated coverage on Cameco and BWXT with Buy ratings, citing accelerating uranium demand and small modular reactor deployments tied to AI data center power needs. The firm stated that institutional endorsement of nuclear fuel cycle and SMR vendors validates long-duration clean energy procurement strategies for AI operators facing carbon compliance mandates.