Truist downgraded BWX Technologies (BWXT) to Hold from Buy with a price target of $95, down from $110. While the firm remains constructive on the long-term outlook for nuclear energy adoption and believes both BWX and Curtiss-Wright (CW), which it also downgraded, are strongly positioned to benefit from growth in traditional and next-gen reactors, its sees limited potential for upward estimate revisions and believe the long-term total addressable market for nuclear is “adequately reflected in current valuations and stock prices,” the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BWXT:
- BWX Technologies jumps 4% to $108.63 after disclosing $45B DoE contract
- BWX Technologies awarded $45B DOE contract
- BWX Technologies price target raised to $123 from $85 at Baird
- BWX Technologies sees FY24 adjusted EPS $3.05-$3.20, consensus $3.09
- BWX Technologies reports Q4 adjusted EPS $1.01, consensus 93c