UPDATE: DA Davidson Starts Babcock & Wilcox Enterprises (BW) at Buy

DA Davidson analyst Brent Thielman initiates coverage on Babcock & Wilcox Enterprises (NYSE: BW) with a Buy rating and a price target of $10.00.

The analyst comments "We are initiating coverage of Babcock & Wilcox (B&W) with a BUY rating and $10 PT or 10x and 7x 2022/2023 EBITDA est. B&W is an early-/mid-stage turnaround exiting legacy issues and facing an opportunity for a substantial lift in sales/EBITDA back toward 'normalized' levels. Competitive positions in environmental controls and a unique renewables offering offer exposure during broadening regulation and an ESG-push on utilities and customers; while its thermal business leverages a large installed base to deliver steady/growing cash flow to the business."

For an analyst ratings summary and ratings history on Babcock & Wilcox Enterprises click here. For more ratings news on Babcock & Wilcox Enterprises click here.

Shares of Babcock & Wilcox Enterprises closed at $6.44 yesterday.

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