BofA raised the firm’s price target on Centrus Energy (LEU) to $340 from $285 and keeps a Neutral rating on the shares after the company was among three companies awarded $900M by the Department of Energy for nuclear fuel capacity funding. The funding is earmarked for the construction of new high-assay low enriched uranium capacity the U.S. The $900M for Centrus is slightly less than the $1.7B award that the firm had assumed in its model, but it thinks that more U.S. government agency funding for Centrus down the road “should not be entirely ruled out,” the analyst tells investors.
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