Analyst Joe Ritchie of Goldman Sachs maintained a Buy rating on Mirion Technologies, retaining the price target of $34.00.
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Joe Ritchie has given his Buy rating due to a combination of factors that highlight Mirion Technologies’ strong market position and growth potential. The company has experienced significant momentum in the nuclear sector, with expectations of double-digit growth in nuclear power driven by their flow business and pricing strategies. Management is focused on executing their order pipeline, with confidence in securing approximately $175 million in expected orders this year.
Furthermore, Mirion Technologies is uniquely positioned as the only pure-play company in the detection, measurement, and analysis of ionizing radiation, leading in 17 out of 19 product categories globally. The company’s large total addressable market and adaptable technology provide opportunities for both organic and inorganic growth. With over two-thirds of their business rooted in nuclear and safety segments, Mirion is well-positioned to capitalize on the evolving market dynamics and structural tailwinds in the nuclear power industry.
In another report released on November 25, Evercore ISI also initiated coverage with a Buy rating on the stock with a $29.00 price target.
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MIR in relation to earlier this year.