#6 - NuScale Power (NYSE:SMR)
The nuclear energy sector has locks and keys. NuScale Power Corp. (NYSE: SMR) is a provider of locks in the form of advanced small modular reactors (SMRs) that will be essential for next-generation nuclear power generation.
The U.S. Department of Energy (DOE) is prioritizing the production of low-enriched uranium (LEU) as part of its strategy to ensure, in part, the future deployment of cutting-edge nuclear technologies such as the SMRs that NuScale produces. Investors should take note that the company already has received U.S. Nuclear Regulatory Commission certification for one of its designs, which is likely to lead to a key first-mover advantage.
SMR stock is up 271% in 2024 and has shown no sign of slowing down despite a miss on the top and bottom lines in its first quarter earnings report. Analysts do have a consensus Hold on the stock, which they suggest could have an 8% downside. However, a recent (late June) upgrade by B Riley suggests that SMR stock could have an upside price target of $14.
About NuScale Power
NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.
Read More - Current Price
- $24.89
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 5 Buy Ratings, 1 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $10.39 (58.2% Downside)
