Mirion initiated with a Buy at B. Riley

B. Riley last night initiated coverage of Mirion with a Buy rating and $14 price target. Mirion is a market leader in industrial and medical applications related to radiation detection, the analyst tells investors in a research note. The firm says that despite the company’s dominance in end markets and omnipresence in nuclear plants and medical settings, the stock has been under-followed by investors since its SPAC merger in 2021, even though it is already generating $800M revenue and close to $200M in adjusted EBITDA. Mirion is improving its operational efficiency after the consolidation of recent acquisitions, contends Riley.