Standard Nuclear rises after bullish calls by brokerages
BUZZ-Standard Nuclear rises after bullish calls by brokerages ** Shares of energy company Standard Nuclear STDN.N jump 17.5% to $9.9 after at least four brokerages initiate coverage with largely bullish calls as research-quiet period ends
** STDN secured a valuation of $2.17 billion after its shares opened at $13.50 vs offer price of $15 in NYSE debut on July 16
** "We believe STDN is uniquely positioned to benefit from the commercialization of advanced nuclear buildout through its first-mover position in TRISO fuel, favorable industry and policy tailwinds," says Stifel
** The sector has seen many new reactor companies come to market, but pure-play, pick-and-shovel opportunities are still scarce, and Standard Nuclear offers investors this exposure to the advanced reactor buildout through the fuel - William Blair analysts
** The buildout is capital-efficient with high-margin unit economics, which will position Standard Nuclear to capture 70% of a $3.8 billion TAM by 2035 - William Blair analysts
** Including session's move, stock down 34% since debut
Brokerage | Rating | PT |
BofA | Buy | $15 |
William Blair | Outperform | NA |
Stifel | Buy | $16 |
RBC Capital Markets | Outperform | $11 |
(Reporting by Pragyan Kalita in Bengaluru)
((Pragyan.Kalita@thomsonreuters.com;))
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