DA Davidson analyst Brent Thielman lowered the firm’s price target on Babcock & Wilcox to $3.50 from $4 but keeps a Buy rating on the shares. The analyst states that 2024 will be a crucial year for Babcock & Wilcox to prove that the company can leverage increased demand for diverse power solutions and ultimately drive improving earnings and cash flows. DA Davidson added however that while there is still sufficient liquidity to run the business for now, Babcock & Wilcox’s capital structure will need to be addressed in 2025.
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