Citi notes that NuScale Power (SMR) revenues missed estimates in Q3 and that the company made part of the first cash payment to ENTRA1. The firm, which views it as likely that NuScale continues to utilize public equity to fund future payments and notes that Fluor (FLR) announced an arrangement that allows it to sell its NuScale stake, views both these factors keeping NuScale shares under pressure. It maintains a Sell rating and $37.50 price target on NuScale.
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