- Oops!Something went wrong.Please try again later.
By Sam Boughedda
Investing.com — Nuclear fuel company Centrus Energy (NYSE:LEU) has been one of the more significant movers Tuesday after receiving a boost from Roth Capital analysts.
Roth Capital upgraded the stock to buy from hold, raising its price target to $58, up only from $57, to "reflect the impact from the completion of the Preferred Stock redemption," which is a "small benefit to the valuation," analyst Joe Reagor told investors in a research note.
The analyst added that since he last wrote about the company, its share price has declined significantly, reflecting a reversal of non-fundamental trading in Centrus shares, while he is also expecting operating results to improve next year.
On Nov. 12, Centrus Energy's shares hit an intraday high of $88.88, but since then, they have experienced an almost constant decline, touching a low of just under $44 last Wednesday. However, following today's note from Roth, Centrus' stock is up 16%.
"Given the company's current share price of $47.06 and our outlook for improved operating results in 2022, we are returning to a Buy rating," explained Reagor.