NuScale Power price target raised to $60 from $44 at Canaccord

Canaccord raised the firm’s price target on NuScale Power (SMR) to $60 from $44 and keeps a Buy rating on the shares. The firm noted its deal to collaborate with the Tennessee Valley Authority to provide TVA with up to 6 gigawatts of new nuclear power generation on sites in TVA’s seven-state region through the deployment of six ENTRA1 Energy Plants.” And importantly, “the TVA and ENTRA1 Energy partnership is an important first step to advance deployment of advanced nuclear technology in America with ENTRA1’s immediate strategy to utilize NuScale’s SMR equipment inside ENTRA1 Energy Plants.” This validation of its technology allowed Canaccord to raise its estimates and price target