Maxim analyst Tate Sullivan raised the firm’s price target on BWX Technologies to $70 from $65 and keeps a Buy rating on the shares. The analyst states that he is increasing his revenue estimates based on the company building a prototype mobile nuclear microreactor for remote U.S. military bases in 2023 and 2024. Sullivan adds that while he had previously factored in Project Pele delays into estimates, BWX Technologies’ consistent work on another form of portable nuclear reactors for U.S. aircraft carriers and submarines should help the company build the initial Project Pele microreactor.
Published first on TheFly
