In a report released today, Andrew Kaplowitz from Citi maintained a Buy rating on Mirion Technologies (MIR – Research Report), with a price target of $20.00.
Andrew Kaplowitz has given his Buy rating due to a combination of factors that highlight Mirion Technologies’ promising growth trajectory and operational improvements. The company’s Nuclear & Safety business is benefiting from favorable market conditions, which are expected to support its organic growth targets of 6%-8% and contribute to achieving a 30% adjusted EBITDA margin by 2028. This growth is underpinned by strong demand drivers and Mirion’s robust market position, coupled with a focus on operational execution and continuous improvement, which are enhancing margin expansion prospects.
Furthermore, the global emphasis on energy security and increasing power demands is likely to bolster the demand for Mirion’s commercial nuclear segment, which accounts for a significant portion of its revenue. The company’s strategic efforts in commercial activities are expected to further drive growth. Additionally, with a reduced net leverage and a strong pipeline for mergers and acquisitions, Mirion is well-positioned to accelerate its growth through strategic acquisitions, particularly in nuclear power and nuclear medicine sectors.