Analyst Sameer Joshi of H.C. Wainwright maintained a Buy rating on Centrus Energy, retaining the price target of $300.00.
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Sameer Joshi has given his Buy rating due to a combination of factors that highlight Centrus Energy’s strategic positioning and growth potential. The company has announced a $1 billion At-the-Market (ATM) offering, which is seen as a strategic move to capitalize on the recent strong performance of its stock, driven by favorable federal policy announcements. Despite a sequential decline in quarterly revenues, the company’s trailing-twelve-month metrics show a positive trend, with revenues increasing compared to the previous year.
Furthermore, Centrus Energy’s strong backlog of $3.9 billion, including significant contracts with the U.S. Department of Energy, underscores its solid market position. The company’s prospects are bolstered by the anticipated demand from data center hyperscalers seeking long-term energy solutions, which could lead to strategic partnerships and funding opportunities. Centrus’ established role in the U.S. nuclear fuel supply chain provides it with a competitive advantage and positions it well to benefit from the evolving demand for small modular reactors and HALEU in the coming years.
In another report released yesterday, Evercore ISI also reiterated a Buy rating on the stock with a $390.00 price target.