UBS lowered the firm’s price target on NuScale Power (SMR) to $20 from $38 and keeps a Neutral rating on the shares. The price target reduction reflects Q3 results and milestone payments under the ENTRA1 milestones agreement, the analyst tells investors in a research note. UBS remains cautiously optimistic on the outlook for U.S. nuclear development broadly with concerns over capital needs for project development and potential delays and cost overruns.
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