Core Viewpoint - NuScale Power's stock has experienced a significant decline following a downgrade by TD Cowen analyst Marc Bianchi, who shifted the rating from buy to hold due to anticipated negative catalysts affecting the stock [1][4]. Group 1: Stock Performance - NuScale Power's shares fell by 9.3% as of 11:45 a.m. ET on Wednesday [1]. - The stock has already seen a 36% decline over the past year, indicating ongoing investor concerns [1]. Group 2: Project Developments - Nuclearelectrica is expected to make a Final Investment Decision (FID) on its Doicesti Romanian small modular reactor (SMR) project this week, with Bianchi predicting that the project will proceed but with increased risk shifted to NuScale and a potential delay in completion to 2033 or 2034 [2]. - The original completion date was anticipated to be no later than 2030, making this a significant setback for NuScale [2]. Group 3: Market Implications - Bianchi suggests that other nuclear utilities are observing the Doicesti project as a test case for NuScale's commercial viability, which could influence their future decisions [3]. - Delays in the Doicesti project could have cascading effects on the timelines for NuScale's other customers, potentially pushing back the company's expected profitability, which analysts had projected for 2030 [4].