BWX Technologies price target raised to $83 from $77 at Truist

Truist analyst Michael Ciarmoli raised the firm’s price target on BWX Technologies to $83 from $77 and keeps a Buy rating on the shares after recent meetings with its management. The analyst is citing signs of microreactor adoption in the commercial market and believes that the high-margin medical revenue growth acceleration will complement stability in the company’s core naval defense market. The combination of numerous revenue growth drivers, monopolistic market positions, elevated visibility, a resurgence in the commercial nuclear market and sharp focus on execution will enable BWX to post best-in-class results among its peers over the next 12-36 months, the firm added.