As previously reported, BNP Paribas Exane downgraded NuScale Power (SMR) to Underperform from Neutral with a price target of $25, down from $41. On the firm’s estimate of about 4 GW of cumulative shipments by 20240, it estimates NuScale will pay ENTRA1 over $6B over the next 15 years under their milestone agreement, notes the analyst, who says the ENTRA1 economics “fundamentally change how SMR must be valued.”
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