Nuscale Power initiated with a Neutral at Goldman Sachs

Goldman Sachs analyst Brian Lee initiated coverage of Nuscale Power (SMR) with a Neutral rating and $24 price target implying 1% downside from current levels. NuScale is a small modular reactor manufacturing company which will be an “integral player in the global race to decarbonization,” the analyst tells investors in a research note. The firm believes Nuscale Power provides investors with an attractive opportunity to invest in a pure play nuclear small modular reactor manufacturer which has first mover advantage. However, citing its new technology, licensing process, “unproven” business model, and financial targets that remain uncertain, Goldman is taking a more balanced view on the stock at current valuation levels.