What Happened?
Shares of radiation safety company Mirion (NYSE: MIR) jumped 3.2% in the afternoon session after Northland Capital Markets raised its price target on the stock.
The firm increased its price projection for Mirion Technologies from $26.00 to $29.00, while keeping its "Outperform" rating unchanged. This move signaled a more positive outlook on the company's value from the capital markets firm. The new target represented an 11.54% increase in the projected stock value, suggesting a notable potential upside for investors.
After the initial pop the shares cooled down to $23.28, up 3.6% from previous close.
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What Is The Market Telling Us
Mirion’s shares are quite volatile and have had 18 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 4 days ago when the stock gained 8% on the news that the August Personal Consumption Expenditures (PCE) report showed that inflation is not accelerating unexpectedly, raising hopes for future interest rate cuts.
The report, a key inflation gauge for the Federal Reserve, indicated that the headline PCE price index rose by 0.3% month-over-month, aligning with consensus forecasts. More importantly, the core index, which strips out volatile food and energy costs and is closely watched by the Fed, increased by a milder 0.2%. This steady data provided reassurance to investors that persistent inflationary pressures are stable. The market's positive reaction stems from hopes that this could keep the central bank on its anticipated path of monetary easing. Such cuts can stimulate the economy and make stocks more attractive to investors, leading to a cautiously optimistic mood on Wall Street.
Mirion is up 37.6% since the beginning of the year, and at $23.28 per share, it is trading close to its 52-week high of $24.60 from September 2025. Investors who bought $1,000 worth of Mirion’s shares 5 years ago would now be looking at an investment worth $2,163.
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