NuScale receives largest SMR power commitment in U.S. history, says BofA

NuScale Power (SMR) said Tuesday that the Tennessee Valley Authority and ENTRA1 Energy will collaborate on the deployment of up to 6 GW of new nuclear capacity, representing the largest SMR power commitment by a utility in U.S. history and could power about 4.5M homes, BofA tells investors in a research note. The firm, which notes that NuScale shareholder Fluor (FLR) is eligible to start monetizing its stake next week, maintains a Neutral rating and $38 price target on NuScale shares, but sees further binding commercial steps as critical to becoming more constructive on the stock.