Evercore ISI raised the firm’s price target on Centrus Energy (LEU) to $205 from $145 and keeps an Outperform rating on the shares. TerraPower announced a $650M private funding capital raise which included both new investors, like Nvidia’s (NVDA) venture capital arm, and current investors, providing another indication of the vital role nuclear energy will play in powering AI going forward and providing an incremental positive data point for Centrus Energy given its agreement with TerraPower to provide High-Assay Low-enriched Uranium for TerraPower’s Natrium technology- based advanced nuclear reactor, the analyst tells investors in a research note. While the allocation of $3.4 billion in DOE funding to develop a domestic nuclear fuel supply chain remains the most significant near-term catalyst for Centrus Energy, additional private investment in Centrus’ SMR partners further highlights the strategic value of being the sole NRC-licensed producer of HALEU for both commercial and national security applications, the firm says.
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