NuScale Power (SMR) Price Target Cut by B. Riley on Q1 Weakness

B. Riley Cuts NuScale Power Price Target Amid Q1 Financial Weakness

B. Riley lowered its price target for NuScale Power Corporation (NYSE: SMR) to $19.00 from $24.00, while maintaining a bullish rating on the stock. Based on the referenced share price of $12.76, the revised target implies a potential upside of about 48.9%.

The adjustment comes after a difficult first quarter for NuScale. Revenue fell to $0.6 million, down from $13.4 million in the same period last year, while the company reported a basic and diluted loss of $0.14 per share. Net cash used in operating activities was $314.7 million, compared with $22.8 million a year earlier.

NuScale attributed the year-over-year revenue decline mainly to the absence of comparable activity from the RoPower technology license agreement and Fluor’s Phase 2 FEED work, both of which contributed to prior-year results.

Despite these near-term financial pressures, NuScale continues to point to long-term commercialization opportunities. The company’s 50 MWe small modular reactor design has received NRC certification, and its uprated 77 MWe design received Standard Design Approval from the NRC in 2025. However, future projects will still require site-specific approvals, construction permits and operating licenses.

NuScale is also pursuing opportunities tied to large-load power demand, including data centers, industrial users and other energy-intensive customers. A major potential growth driver is the collaborative agreement between TVA and ENTRA1 Energy, NuScale’s commercialization partner, to explore a 6 GW nuclear portfolio involving ENTRA1 Energy power plants on TVA sites. The agreement is an important development opportunity.

Analyst sentiment remains mixed. StockAnalysis reports a consensus Hold rating and an average price target of about $18.10, while Investing.com lists an average 12-month target of about $16.64 based on 14 analysts. These figures suggest that Wall Street sees potential upside, but with meaningful execution and commercialization risks still attached.