Evercore ISI lowered the firm’s price target on Centrus Energy (LEU) to $390 from $452 and keeps an Outperform rating on the shares following “muted” Q3 results. While the $1B ATM raised some questions surrounding Department of Energy allocation timing, the long-term thesis and market fundamentals seemingly continues to strengthen for Centrus, which would make Evercore ISI buyers of today’s weakness, the firm told investors in a research note. Evercore added that the price target adjustment accounts for dilution.
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