NuScale Power (SMR – Research Report), the Energy sector company, was revisited by a Wall Street analyst today. Analyst Ryan Pfingst from B.Riley Financial remains neutral on the stock and has a $12.00 price target.
Ryan Pfingst’s Buy rating on NuScale Power is based on a combination of factors. Firstly, despite the termination of the Carbon Free Power Project (CFPP) due to subscription issues, Pfingst believes that NuScale is well-positioned for future projects. Furthermore, the CFPP has contributed significantly to NuScale’s development process and supply chain, further strengthening the company’s outlook. Pfingst also cites NuScale’s solid liquidity position, as the company ended the third quarter with substantial cash reserves, and expects to reduce its cash burn rate with the halt of CFPP spending.
In addition, Pfingst highlights NuScale’s confidence in its Standard Power and RoPower projects and a robust customer opportunity pipeline. He also considers the post-CFPP stock sell-off as overblown, given the long-term nature of the story and the known challenges faced by CFPP. Another critical factor is NuScale’s Nuclear Regulatory Commission (NRC) certification, which Pfingst sees as a significant differentiator for the company against other advanced reactor firms. In his view, this certification ensures continued customer interest due to the low-carbon, baseload power value proposition of NuScale’s technology.
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NuScale Power (SMR) Company Description:
Spring Valley Acquisition Corp is a blank check company.
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