NuScale Power Price Target Cut to $6.00/Share From $10.00 by UBS

NuScale Power (NYSE:SMR) shares fell 3.3% in premarket trading after UBS downgraded the small modular reactor developer to Sell from Neutral and reduced its price target to $6.00 from $10.00.

UBS cited its expectations regarding NuScale's project construction timeline and the status of customer commitments. According to the source, the firm estimates a construction timeline of more than five years and noted that competing small modular reactor developers are progressing towards the construction stage.

The brokerage also cited the absence of firm customer commitments as a factor in its assessment of NuScale's commercial outlook.

https://finance.yahoo.com/markets/stocks/articles/nuscale-power-shares-fall-3-122033275.html