Baird analyst Peter Arment upgraded BWX Technologies to Outperform from Neutral with a price target of $85, up from $61. The analyst has “growing confidence of sustained growth” in the company’s Government operations while tailwinds in its Commercial nuclear activity expands. In addition, Mo-99 FDA approval remains on track, which keeps BWX’s revenue generation in play for 2024, the analyst tells investors in a research note. The firm says BWX’s ramping Navy programs will be supplemented by Commercial tailwinds.
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