SunTrust Robinson Humphrey Starts BWX Technologies (BWXT) at Buy

SunTrust Robinson Humphrey initiated coverage on BWX Technologies (NYSE: BWXT) with a Buy rating and a price target of $46.00.

Analyst Michael Ciarmoli comments "Firmly situated as the nation’s primary manufacturer of nuclear reactors or Navy ships/submarines, we think BWXT possesses one of the more predictable business models in the defense industry that will benefit from the commencement of a defense budget up-cycle, and strong support to increase the U.S. Navy's fleet size. BXWT currently generates above peer average margins and possesses highly visible and predictable free cash flows. We argue that continued support of the VA Class, ramp up of the Columbia class, and progression on its missile tubes programs, will anchor overall financials in the coming periods. Moreover, President Elect Trump’s desire to increase the Navy fleet by 14% will likely be additive to BWXT’s growth story."

For an analyst ratings summary and ratings history on BWX Technologies click here. For more ratings news on BWX Technologies click here.

Shares of BWX Technologies closed at $40.67 yesterday.

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