BWX Technologies price target lowered to $135 from $160 at BofA

BofA lowered the firm’s price target on BWX Technologies (BWXT) to $135 from $160 and keeps a Buy rating on the shares. The firm sees BWX as uniquely positioned to the U.S. Navy build up, as well as the increasing need for energy and power worldwide, but reduced the multiple it applies to estimates due to increased market volatility and uncertainty which could adversely affect early-stage tech and AI-beneficiaries, the analyst tells investors.