BWX Technologies (BWXT) has received a new Buy rating, initiated by William Blair analyst, Jed Dorsheimer.
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Jed Dorsheimer has given his Buy rating due to a combination of factors that highlight BWX Technologies’ strong position in the nuclear supply chain. The company is notably involved in the Canadian CANDU reactor fleet, where it plays a crucial role as a supplier of nuclear fuel and key reactor components. This involvement positions BWXT to benefit significantly from the planned expansion of CANDU reactors, which represents a substantial market opportunity.
Additionally, BWXT’s early successes in the small modular reactors (SMRs) sector further support the Buy rating. The company’s partnerships with major players in the SMR space, such as GE Hitachi and Westinghouse, underscore its potential to capitalize on the growing interest in SMRs. These strategic moves, combined with favorable policy shifts towards nuclear power, enhance BWXT’s growth prospects and justify the positive outlook.
In another report released yesterday, CLSA also maintained a Buy rating on the stock with a $177.60 price target.