Bank of America just raised its EUR/USD forecast
On Monday, Goldman Sachs initiated coverage on Nuscale Power Corp (NYSE:SMR), assigning a Neutral rating to the company’s stock with a 12-month price target of $24.00. The target suggests a minimal downside from the stock’s current market price of $24.52. The stock has shown remarkable momentum, delivering a 283% return over the past year and a 36% gain in the past week alone.
Nuscale Power, recognized for its small modular reactor (SMR) manufacturing capabilities, is positioned by Goldman Sachs as a key contender in the global effort towards decarbonization. The company stands out as the sole owner of an SMR technology in the United States that has submitted a design application to the Nuclear Regulatory Commission (NRC), with an expectation for a final design certification ruling by 2025. According to InvestingPro data, the company maintains strong financial health with a current ratio of 6.23, indicating robust liquidity to fund its development plans.
Goldman Sachs acknowledges the company’s pioneering status in the nuclear SMR manufacturing sector, highlighting its first-mover advantage and a robust project pipeline. Nuscale Power has also established global partnerships that have enabled the commencement of production.
Despite these positive attributes, Goldman Sachs maintains a cautious stance on the stock. The firm cites the novelty of the technology, the intricacies of the licensing process, the yet-to-be-proven business model, and the uncertainty surrounding the company’s financial targets as reasons for their balanced view on the stock’s current valuation.
In other recent news, Nuscale Power Corp reported a significant surge in revenue for the first quarter of 2025, reaching $13.4 million, a substantial increase from $1.4 million in the same quarter the previous year. This revenue figure notably exceeded the forecasted $2.31 million, aligning with the company’s earnings per share (EPS) forecast of -$0.13. Nuscale’s operating expenses decreased to $42.3 million from $44.6 million the previous year, and the company maintains a strong cash position with $491.4 million in cash and equivalents. The company is advancing its 77-megawatt electric design approval, anticipated by July 2025, which is crucial for future deployment. Additionally, Nuscale raised $102.4 million through an ATM program, bolstering its financial standing. Analyst firm TD Cowen noted the company’s aim to secure a firm customer order by the end of 2025, with commercial deployment targeted for 2030/2031. Nuscale is also focusing on the Row Power project in Romania, with a potential final investment decision expected in late 2025 or early 2026. These developments reflect Nuscale’s strategic initiatives and growing market demand for its technology.
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