Centrus ready to act on ‘first-mover advantage,’ says Evercore ISI

After Centrus Energy (LEU) announced it has begun domestic centrifuge manufacturing to support its commercial LEU enrichment activities, Evercore ISI calls the news a “clear sign” that Centrus is ready to act on its “first-mover advantage.” The firm, which views the commencement of centrifuge domestic manufacturing as a “meaningful positive indicator for shares,” argues that the company’s confidence to begin the process before an explicit allocation from the DOE suggests an increased confidence in its ability to finance the build-out through various avenues. The firm reiterates an Outperform rating and $390 price target on Centrus shares.