Babcock & Wilcox price target raised to $23 from $17 at Northland

Northland raised the firm’s price target on Babcock & Wilcox to $23 from $17 and keeps an Outperform rating on the shares. The firm increased the assumed frequency of large-scale newbuild project wins from one every four years to one every two years, telling investors that it sees B&W as “well-positioned for significant continued growth.”