Janney Montgomery Scott initiated coverage of BWX Technologies with a Buy rating and $113 price target. The company has non-replicable core competencies, facilities, and capabilities within nuclear engineering and manufacturing, and is a well-run company led by an experienced management team across all of its businesses focused on delivering high EBITDA margins, high free cash flow, returning cash to shareholders, and leveraging its capabilities across endmarkets, the analyst tells investors in a research note. BWXT Medical is also well-positioned to capitalize on a nuclear medicine industry that is expected to grow at double-digit CAGRs to $30B by 2030, the firm says.
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