01:24 PM EST, 12/19/2024 (MT Newswires) -- AtkinsRealis ( SNCAF ) announced the award of a $2.85 billion contract for the re-tubing and life extension of the Unit 1 CANDU reactor at the Cernavoda Nuclear Power Plant in Romania. ATRL will complete the work as part of a JV with Korea Hydro & Nuclear Power (KHNP), Ansaldo Nucleare, and the Canadian Commercial Corporation (CCC), with the company's portion valued at $937 million.

The award not only builds on the recent momentum seen in ATRL's Nuclear business,, it also underlines analyst Maxim Sytchev's confidence that it is in the midst of a thematic recovery for the sector following a significant global lull after the 2011 Fukushima incident.

Bottom line - nuclear visibility unabated. ATRL's business momentum in converting the Investor Day-identified nuclear opportunity into actual contracts has gathered pace. The improved dynamic is now also reflected in a much better / healthier trading multiple for ATRL, Sytchev added.

AtkinsRealis ( SNCAF ) is rated Outperform with an $87 price target.

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