Centrus Energy

LEU · NYSE American

$109.88−$0.24 (−0.22%)TodayMarket closed · Oct 20, 7:59 PM ET

Prev close $110.12

LEU analyst rating

BuyConsensus of 15 analysts over the last 12 months. 53% rate it a buy.

Strong buy0
Buy8
Hold7
Underperform0
Sell0

12-month price target · 17 analysts

Average $253.37 (+130.6% upside)

Low: $170.69
Now: $109.88
High: $357.00

Upgrades and downgrades

The latest rating actions, newest first

LEU analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Needham	Oct 20, 2026	Maintains	Buy	$262.00 → $206.00	30%
Guggenheim	Oct 8, 2026	Initiates	Buy	$167.00	55%
Jefferies	Sep 3, 2026	Initiates	Hold	$169.00	57%
Stifel	Aug 25, 2026	Maintains	Buy	$246.00 → $216.00	51%
UBS	Aug 19, 2026	Maintains	Neutral	$170.00 → $185.00	45%
Barclays	Aug 18, 2026	Initiates	Equal-Weight	$207.00	46%
JP Morgan	Aug 7, 2026	Maintains	Neutral	$178.00 → $180.00	54%
Needham	Aug 7, 2026	Maintains	Buy	$264.00 → $262.00	30%
Evercore ISI Group	Aug 7, 2026	Maintains	Outperform	$390.00 → $337.00	17%
JP Morgan	Jul 29, 2026	Maintains	Neutral	$236.00 → $178.00	54%

The case for and against

Updated Oct 18, 2026

Bull case

Centrus Energy is well positioned because it is the only U.S. company with a pathway to commercial HALEU supply and the only NRC-licensed domestic producer with demonstrated HALEU output, having operated since 2023 and produced more than 1,900 kg ahead of schedule. Its ~$3.9 billion backlog, including ~$3.1 billion in LEU and about $0.8 billion in Technical Solutions, provides unusually long revenue visibility while a $900 million DOE task order and $3.4 billion in congressional appropriations support the Piketon scale-up. With gross margin expected to expand from ~26.2% in CY25 to ~35.3% in CY32E and SWU pricing near $200 and above, the company’s mix shift toward scarce, premium-priced domestic fuel strengthens the fundamental case.

Bear case

Centrus Energy is burdened by a weak risk-reward profile because its LEU business still depends on third-party supply, including greater than 51% reliance on Russian TENEX through 2027, while U.S. enrichment capacity remains absent and supply chains are geopolitically fragile. The company is also in the early innings of a multi-billion-dollar capex cycle, yet the funding path to commercialization is not fully de-risked, with roughly $1B raised via ATM last year and another ~$500M in September still leaving meaningful execution, licensing, and construction uncertainty. With management targeting 3.5M SWU capacity but facing first-of-a-kind build risk, potential cost overruns at Piketon, and the possibility of normalized SWU pricing, the stock appears vulnerable if the transition from broker to domestic enricher stalls.

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