Centrus Energy initiated with a Neutral at JPMorgan

JPMorgan analyst Bill Peterson initiated coverage of Centrus Energy (LEU) with a Neutral rating and $148 price target As the only publicly-traded and U.S. headquartered enriched uranium broker-trader and emerging producer, Centrus offers investors exposure to what has become “highly topical themes” of U.S. energy independence and national security through its position in the nuclear value chain, the analyst tells investors in a research note. The firm thinks the shares should trade at a premium given the company’s national security exposure, few substitutes in a supply-limited market, and organic growth opportunities over the long-term, but recommends waiting for a better entry point following a period of outperformance.