Centrus Energy downgraded to Neutral at BofA on valuation

As previously reported, BofA downgraded Centrus Energy (LEU) to Neutral from Buy with a price target of $285, up from $210, after the company reported a Q2 earnings beat, mainly driven by stronger performance of the low-enriched uranium segment. Based on the strong Q2 results and an increase in the firm’s multiple to account for what it sees as increasing U.S. government urgency to build-out domestic enrichment, BofA raised its price target but reduced its rating as it now sees the shares being fairly valued.