BWX Technologies price target raised to $106 from $95 at Truist

Truist raised the firm’s price target on BWX Technologies (BWXT) to $106 from $95 and keeps a Hold rating on the shares. The firm is modeling a higher multiple to account for more positive sentiment in the commercial nuclear market after the company’s Q3 earnings beat, the analyst tells investors in a research note. BWX management also increased its 2024 outlook and provided preliminary 2025 guidance that was generally in line with Street expectations as execution and acquired revenue will help offset the sales mix that will tamp down EBITDA margin expansion, the firm added.