BTIG has initiated coverage on Nuscale Power (SMR, Financial) with a Buy rating, setting a price target of $20. As global efforts to commercialize nuclear small modular reactors (SMRs) intensify, Nuscale is positioned to lead in the U.S. market, according to BTIG's analysis.
The investment firm highlights that China is on track to launch its first commercial SMR as early as next year, indicating a burgeoning interest and competition in this sector. Despite this, BTIG believes that over time, multiple SMR technologies will emerge successfully.
Having been focused on developing its pressurized water-cooled reactor technology since 2007, Nuscale is seen as having a favorable pathway to commercial success. The fact that 70% of the world's nuclear energy already relies on larger pressurized water reactors gives Nuscale a strategic advantage, offering a smoother route to market viability in the U.S.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 8 analysts, the average target price for NuScale Power Corp (SMR, Financial) is $20.66 with a high estimate of $29.00 and a low estimate of $4.50. The average target implies an upside of 39.11% from the current price of $14.85. More detailed estimate data can be found on the NuScale Power Corp (SMR) Forecast page.
Based on the consensus recommendation from 9 brokerage firms, NuScale Power Corp's (SMR, Financial) average brokerage recommendation is currently 2.4, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for NuScale Power Corp (SMR, Financial) in one year is $19.28, suggesting a upside of 29.83% from the current price of $14.85. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the NuScale Power Corp (SMR) Summary page.
