NuScale(US:SMR) The Motley Fool·2024-10-08 18:17Core Viewpoint - NuScale Power's stock has experienced significant volatility in 2024, with a remarkable increase of over 284% year-to-date, driven by growing investor interest and industry support for small modular nuclear reactors (SMRs) [1][2][6]. Company Summary - NuScale Power is a start-up focused on developing small modular nuclear power plants, which are seen as a reliable and cost-effective alternative to fossil fuels, aligning with global efforts to reduce carbon emissions [2]. - The company’s SMR technology is the first to receive design certification from the U.S. Nuclear Regulatory Commission, and it has secured nearly $600 million in cost-share awards from the Department of Energy [6]. Industry Summary - The nuclear energy sector is gaining renewed attention, with significant backing from major financial institutions and technology companies, including a declaration to triple global nuclear energy capacity by 2050 [3]. - Microsoft and Oracle have recently announced plans to invest in nuclear energy to meet their clean energy goals, indicating a broader trend of corporate support for nuclear power [4][5]. - The U.S. government is also investing in SMR technology, with the Department of Energy planning to allocate $900 million and the Export-Import Bank pledging $98 million for an SMR project in Romania [5]. Analyst Sentiment - Analysts have become increasingly bullish on NuScale Power, with firms like CLSA initiating coverage with an outperform rating and a price target of $11 per share, while Craig-Hallum set a target of $16 per share, citing the company's growth potential [7][8]. - The upcoming third-quarter earnings announcement on November 7 is anticipated to provide insights into the company's commercialization progress and financial health, which could further influence stock performance [9].