GSR III Acquisition stock initiated with Buy rating at Roth/MKM

Investing.com - GSR III Acquisition Corp. (NASDAQ:GSRT), currently trading at $10.61 with a market capitalization of $310 million, received a Buy rating from Roth/MKM on Tuesday, with analyst firm setting a price target of $20.00. According to InvestingPro data, the stock has shown positive momentum with a 7.4% return over the past year.

The rating comes as GSR III is in the process of acquiring Terra Innovatum, which will trade under the ticker NKLR once the transaction is completed.

Terra Innovatum has designed a 1MW small modular reactor (SMR) with management targeting commercial approvals in 2027 and initial commercial deliveries in 2028.

Roth/MKM noted that Terra’s strategy "de-risks the future availability of nuclear fuels still under commercial development," as the company’s SOLO designs allow for fuel flexibility and use of commercially available low-enriched uranium for initial deliveries.

The research firm believes this approach accelerates commercialization by using approved components from an existing supply chain, which helps lower capital costs.

In other recent news, Terra Innovatum has made significant progress with the U.S. Nuclear Regulatory Commission (NRC) regarding its SOLO Micro-Modular Reactor (MMR). Several technical documents are currently under regulatory review as part of the licensing process. This advancement follows the submission of Terra Innovatum’s Regulatory Engagement Plan to the NRC, which outlines the non-power reactor licensing pathway. Terra Innovatum is in the process of a business combination with GSR III Acquisition Corp. Benchmark has reiterated its Buy rating on GSR III Acquisition Corp., maintaining a $19 price target. The firm highlighted the memorandum of understanding between Terra Innovatum and ATB Riva Calzoni for the SOLO micro-reactor as a positive development. These recent developments indicate a forward momentum in Terra Innovatum’s strategic initiatives.

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