Overview
- Shares climbed more than 12% premarket after Bank of America raised the rating to Neutral and cut the price target to $28, implying about 42% upside from the prior $19.67 close.
- Bank of America cited a funding and timing mismatch in the ENTRA1 milestones agreement, higher near-term cash needs, accelerating dilution, and limited contract visibility.
- NuScale recently launched a $750 million at-the-market equity program to sell Class A shares through UBS Securities and TD Securities.
- The company holds NRC approval for its uprated 77 MWe SMR design and has a TVA–ENTRA1 pathway for up to 6 GW, which the analyst said supports credibility.
- NuScale remains loss-making and has not sold or deployed any reactors, and the stock is still down roughly 60% from its peak despite recent rebounds.