Wedbush Starts Nuscale Power (SMR) at Underperform

Wedbush analyst Seth Basham initiates coverage on Nuscale Power (NYSE: SMR) with a Underperform rating and a price target of $5.00.

The analyst comments "We initiate coverage of NuScale Power Corporation (SMR) with an UNDERPERFORM rating and $5 price target. NuScale holds the only NRC Design Certification for a small modular reactor (SMR), yet it has not signed a binding, financed module order in its 19-year history. The only time its economics met a real customer, the Carbon Free Power Project (CFPP), was canceled in 2023 after its target power price rose from $58/MWh to $89/MWh. Commercialization now depends on ENTRA1 Energy, whose non-binding agreement with the Tennessee Valley Authority (TVA) triggered a $507m milestone contribution from NuScale and underlies a securities class action."

For an analyst ratings summary and ratings history on Nuscale Power click here. For more ratings news on Nuscale Power click here.

Shares of Nuscale Power closed at $5.62 yesterday.

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