J.P. Morgan starts Centrus Energy with 'neutral' rating

J.P. Morgan starts coverage on U.S.-based nuclear fuel supplier Centrus Energy LEU.A with a "neutral" rating

New PT of $148 an 18.3% downside to stock's last close

Brokerage says LEU is one of two U.S. companies licensed to produce commercial Low-Enriched Uranium and the only one licensed for High-Assay Low-Enriched Uranium, both essential for nuclear fuel

J.P. Morgan expects LEU to take a multi-billion-dollar investment to bring on enrichment capacity at its Piketon facility

"Shares have been on a meteoric rise over the last 3-6 months on boosted US policy support and evolving geopolitical events, but we expect a return to better risk-adjusted levels" - brokerage

8 out of 11 brokerages rate the stock "buy" or higher, 3 "hold"; median PT is $154 - data compiled by LSEG

As of last close, LEU shares up 172% YTD