Maxim Group analyst Tate Sullivan has reiterated their bullish stance on BWXT stock, giving a Buy rating on July 16.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Tate Sullivan has given his Buy rating due to a combination of factors that highlight BWX Technologies’ promising growth prospects. One key reason is the increasing demand for nuclear power, as evidenced by major technology companies like Meta, Microsoft, Alphabet, and Amazon announcing long-term investments in nuclear energy. This growing interest in nuclear power is expected to drive more commercial nuclear power service work, benefiting BWX Technologies significantly.
Additionally, the company’s recent acquisition of Kinectrics is anticipated to enhance its revenue streams, particularly in the commercial nuclear power and utility transmission sectors. The acquisition is expected to close earlier than initially forecasted, which has led to an upward revision of revenue and EBITDA estimates for the coming years. Furthermore, BWXT’s involvement in the U.S. federal government’s microreactor project for military bases is projected to generate substantial revenue, further supporting the Buy rating. These factors, combined with a robust backlog and strategic positioning in the nuclear technology market, underpin the positive outlook for BWXT’s stock.
In another report released on July 16, Bank of America Securities also reiterated a Buy rating on the stock with a $155.00 price target.
BWXT’s price has also changed moderately for the past six months – from $112.140 to $150.280, which is a 34.01% increase.