Deutsche Bank downgraded BWX Technologies (BWXT) to Hold from Buy with a price target of $150, up from $119. The firm’s new price target attempts to better capture the long-term value from new build commercial nuclear. However, even with the increased target, Deutsche Bank does not see upside beyond BWX’s current share levels. As such, it is not confident in the company’s current multiple of 50-times free cash flow on 2025 estimates.
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