BWX Technologies: Achieving Criticality: Upgrade to Buy, $255 Target Price

研报英文原文证据摘录

BWX Technologies: Achieving Criticality: Upgrade to Buy, $255 Target Price

Deutsche Bank

Research

Rating Company Date

Buy BWX Technologies 15 May 2026

Recommendation

North America Change United States

Reuters Bloomberg Exchange Ticker Price at 14 May 2026 (USD) 210.94

BWXT.N BWXT US NYS BWXT

Price Target 255.00

Industrials

238.42 -

Aerospace & Defense 52-week range 107.23

Electronics

Achieving Criticality: Upgrade to Buy,

Valuation & Risks $255 Target Price

Scott Deuschle

Admiral Rickover founded the nuclear navy, taking the nuclear powered submarine

Research Analyst

from an idea in someone's head in 1950 to launch in 1954. He achieved this through +1-212-250-2014

strict program management, accountability, engineering rigor, long-term

planning, and strong stakeholder management. Sam Desai, CFA

Research Associate

+1-212-250-9761

While issues in the Navy's shipyards today suggest that many elements of Admiral

Rickover's legacy may have been set aside, our time with BWXT management

Key changes

during a multi-day NDR this week suggests that his legacy remains alive and well

205.00 to

at BWXT. The company remains focused on disciplined execution, strict program TP ↑ 24.4%

255.00

management, mission focus, and long-term strategic planning. This is bearing fruit

Rating Hold to Buy ↑

today, with strong growth in the near-term and we believe accelerating growth

Source: Deutsche Bank

opportunities in the medium-long-term.

In this note, we provide detailed takeaways from our time with the company. Key

areas of focus in our conversations included uranium enrichment, the company's

manufacturing hub strategy, the recent 30 year shipbuilding plan, and the status of

mPower.

Management's perspective and tone was positive across all elements of the