-- Stifel Canada is maintaining its buy rating and $114.00 price target on the shares of AtkinsRealis Group (ATRL.TO) even as the Globe & Mail reports that the Canadian Nuclear Safety Commission (CNSC) assessed the Monark nuclear power reactor's capacity at 850 MW, substantially lower than the previously expected 1,000+ MW.
Stifel analyst Ian Gillies notes that the CNSC assessment is preliminary. AtkinsRealis yesterday issued a statement disputing the assessment, and stating that the submission was for 925 MW, which could be expanded to 1,000 MW upon owners' request.
AtkinsRealis says the decision for 925 MW (with the option to expand to 1,000 MW) is intentional and indicates that it reflects a commitment to avoid first-of-a-kind (FOAK) risk; replicates a successful operating design; and facilitates cost and schedule discipline for owners and ratepayers.
Price: $90.75, Change: $-1.93, Percent Change: -2.08%