Nuscale Power price target raised to $28 from $14 at B. Riley

B. Riley analyst Ryan Pfingst raised the firm’s price target on Nuscale Power (SMR) to $28 from $14 and keeps a Buy rating on the shares. The company’s cash balance provides NuScale with a multi-year cash runway, the analyst tells investors in a research note. The firm continues to believe announcing a new customer is key for the stock to maintain momentum. While NuScale does not provide a customer pipeline in gigawatts or other terms, its exclusive commercialization partner, ENTRA1, states that it is “delivering on a ~30 GW SMR project pipeline” on its website, Riley points out.