Amentum upgraded to Equal Weight from Underweight at Morgan Stanley

Morgan Stanley upgraded Amentum (AMTM) to Equal Weight from Underweight with a price target of $35, up from $20. The firm sees a more balanced risk/reward at current share levels. Amentum’s opportunities in commercial nuclear power “may bridge part of the shortfall” in its long-term revenue growth target of 4%-6%, the analyst tells investors in a research note. Morgan Stanley believes Amentum’s valuation is “uncommanding” for a commercial nuclear-exposed stock.