November 11, 2024

NuScale Power’s Strategic Position in the Nuclear Energy Sector Drives Buy Rating

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Analyst George Gianarikas of Canaccord Genuity maintained a Buy rating on NuScale Power (SMR – Research Report), boosting the price target to $26.00.

George Gianarikas has given his Buy rating due to a combination of factors including the promising position of NuScale Power in the nuclear energy sector. The company possesses the only small modular reactor (SMR) approved by the US Nuclear Regulatory Commission, placing it in a strategic spot to benefit from the growing demand for nuclear energy. This demand is bolstered by a global shift towards clean and reliable energy solutions, which aligns with NuScale’s offerings.
Additionally, Gianarikas anticipates that NuScale will secure significant deals similar to other private reactor companies, despite current delays which he attributes to the complexity and near-term deployment of their technology. Financially, NuScale is projected to require less capital than previously estimated before reaching positive cash flow, reducing potential dilution. The increase in their price target to $26 from $9.50 reflects these positive expectations and the anticipated rise in module sales as nuclear energy gains traction worldwide.

According to TipRanks, Gianarikas is a 3-star analyst with an average return of 3.8% and a 38.54% success rate. Gianarikas covers the Industrials sector, focusing on stocks such as Aspen Aerogels, Generac Holdings, and Ameresco.

In another report released on November 8, Craig-Hallum also reiterated a Buy rating on the stock with a $27.00 price target.

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NuScale Power (SMR) Company Description:

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