BWX Technologies initiated with an Outperform at William Blair

William Blair initiated coverage of BWX Technologies (BWXT) with an Outperform rating and no price target BWX has a “robust position” in the commercial nuclear supply chain, especially Canada’s home-grown CANDU reactor fleet, the analyst tells investors in a research note. The firm says that while the company is mostly known as the U.S. Navy’s sole nuclear reactor supplier, it has the expertise and capital to expand its commercial nuclear power business, including CANDU and small modular reactors. Blair believes BWX “will be a large beneficiary of the nuclear renaissance.”