Citi Starts Nuscale Power (SMR) at Neutral

Citi analyst Vikram Bagri initiates coverage on Nuscale Power (NYSE: SMR) with a Neutral rating and a price target of $46.00.

The analyst comments "We are initiating coverage of NuScale with a Neutral/HR rating and $46 PT. The company has the first-mover advantage in an industry buoyed by rising power demand from Datacenter/AI. Uprated and approved 77MW design, modular technology, supply chain partnerships, relationship with FLR, and no HALEU dependence put the company ahead of its competition with new contract announcements on the horizon. However, significant execution risks remain while the stock appears to be pricing nearly 50GW of installs by 2040. In the near-term, a new customer contract could drive the stock higher. But, after the announcement, focus should shift entirely on execution and fundamentals while the competition catches on with regulatory approvals."

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 $37.20 yesterday.

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