BofA raised the firm’s price target on NuScale Power (SMR) to $38 from $36 and keeps a Neutral rating on the shares. The firm sizes the U.S. small modular reactor opportunity at 343GW by 2050, adding that the “defining question is whether SMRs can deliver competitive costs.” Credibility is shifting from design approvals to customer pull and “only a few developers are passing that test,” adds the analyst, who cites stalled customer progress for the firm’s Neutral rating on NuScale.
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