BTIG列出BWXT、Kratos为2026下半年工业股首选

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Investing.com -- BTIG has released its Top Picks report for the industrials sector, highlighting highest conviction investment ideas over a 12-month horizon beginning in the second half of 2026. The report, priced at market close on June 30, 2026, features companies positioned to benefit from increased defense spending and the nuclear renaissance.
The selections reflect a shift in focus within the sector, as BTIG adjusts its large-cap and SMID-cap picks based on recent market performance and evolving catalysts.
BWX Technologies
BTIG maintains a Buy rating with a $235 price target, valuing the company at 35x EV/EBITDA on 2026 estimates. The stock is up 7.0% year-to-date versus the S&P 500’s 9.3% gain.
As the sole-source manufacturer of naval nuclear reactors for the US Navy, BWXT has delivered more than 400 units since the 1950s. The company supplies nuclear components and fuel for large-scale reactors, SMRs, and microreactors, including manufacturing microreactors for government programs such as Project PELE.
The Navy’s 30-year shipbuilding plan provides visibility for 2 Virginia-class submarines and 1 Columbia-class submarine per year.
Near-term catalysts include an $80 billion US government and Westinghouse initiative to build ten AP1000 reactors by 2030, and Japan’s recent $40 billion US investment that could kickstart 8-10 projects, representing a potential $800 million to $1 billion opportunity for BWXT. The company also supports GE-Hitachi’s BWRX-300 SMR in Canada and the US, as well as other SMR manufacturers including Terrapower and Rolls-Royce SMR.
In recent news, BWX Technologies announced it has won over $1.4 billion in U.S. Navy contracts and raised its 2026 guidance following strong first-quarter results, which prompted an upgrade to Buy from Seaport Global Securities.
Kratos Defense & Security Solutions
BTIG assigns a Buy rating with a $100 price target, using an 8x multiple on 2027 sales. The stock has declined 37.1% year-to-date and sits 59.5% below its January 52-week high, which BTIG attributes to defense tech multiple compression and delayed contract awards.
The firm models approximately 30% topline growth in both 2026 and 2027, ahead of consensus estimates in the low-20% range, driven by investment in hypersonics, unmanned systems, and propulsion. The $156 billion of defense reconciliation funding under the One Big, Beautiful Bill Act is authorized over five years, with the Department of War indicating intent to obligate the full amount in fiscal year 2026.
Relevant programs include $400 million for MACH TB, $270 million for Marine Corps CCA, $175 million for Power JDAM, and $170 million for Project Anaconda.
Kratos Defense & Security Solutions has received approximately $400 million in funding from the Department of Defense for hypersonic system programs and also secured a separate $156 million contract from the Department of Energy.
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