Needham cuts Babcock & Wilcox stock price target on lower multiple
Needham lowered its price target on Babcock & Wilcox (BW) to $15 from $20, citing a reduced valuation multiple, while maintaining a Buy rating. The company reported Q3 2026 revenue of $290.8M, up 109% YoY, and adjusted EBITDA of $17.7M, beating estimates. Management set a fiscal 2027 adjusted EBITDA target of $125M-$140M, exceeding consensus. BW's pipeline exceeds $16B, with significant utility, industrial, and data-center opportunities.


