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Craig-Hallum bullish on Perma-fix Environmental, initiates with a Buy

As previously reported, Craig-Hallum analyst Aaron Spychalla initiated coverage of Perma-fix Environmental with a Buy rating and $18 price target. Perma-Fix has been a leader in the hazardous and nuclear waste treatment and services space for 30-plus years and typically generated $70M-$100M+ in revenue with modest profitability. The firm thinks this is poised to change with numerous transformative opportunities across both sides of its business expected to materialize in the second half of 2024 and 2025 and set to drive substantial growth and sustainable profitability in the coming years. Craig-Hallum sees a significant stock opportunity as this occurs, with the potential for a $50-plus stock should it be more successful in garnering new wins.

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