Mirion initiated with an Outperform at Baird

Baird initiated coverage of Mirion (MIR) with an Outperform rating and $22 price target The firm expects the company’s “tight linkage” to multi-year, secular and increasing opportunities in both commercial nuclear power and nuclear medicine markets elevate its forward growth prospects. Mirion’s “expansive” installed base provides a substantial recurring and replacement revenue foundation and stability for compounding, the analyst tells investors in a research note. Further, Baird expects the company’s internal operational excellence initiatives will promote EBITDA margin and free cash flow expansion.