BWX Technologies downgraded to Hold from Buy at Truist

Truist downgraded BWX Technologies (BWXT) to Hold from Buy with a price target of $95, down from $110. While the firm remains constructive on the long-term outlook for nuclear energy adoption and believes both BWX and Curtiss-Wright (CW), which it also downgraded, are strongly positioned to benefit from growth in traditional and next-gen reactors, its sees limited potential for upward estimate revisions and believe the long-term total addressable market for nuclear is “adequately reflected in current valuations and stock prices,” the analyst tells investors.