RBC Capital lowered the firm’s price target on NuScale Power (SMR) to $32 from $35 and keeps a Sector Perform rating on the shares after its Q3 results. The company continues to work towards cmmercialization though no new updates on RoPower or ENTRA1/TVA timing were provided, the analyst tells investors in a research note. RBC adds however that the potential up to $25B investment announcement for ENTRA1 under the U.S.-Japan Framework Agreement is an important proof point, and the management indicated that this could be helping to support conversations with additional counterparties.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SMR:
- Fluor price target raised to $55 from $50 at DA Davidson
- NuScale Power’s Uncertain Financial Outlook and Reliance on Public Equity Prompt Sell Rating
- Funding needs, Fluor sales should keep NuScale shares under pressure, says Citi
- NuScale Power Announces New Sales Agreement
- NuScale Power price target lowered to $27 from $31 at Goldman Sachs