Nuscale Power initiated with an Outperform at CLSA

CLSA initiated coverage of Nuscale Power with an Outperform rating and $11 price target. NuScale is a leading developer of advanced nuclear reactors and its return catalysts will largely be “sentiment-based” for the next few years, driven by regulatory approvals, proofs-of concept and customer interest, the analyst tells investors in a research note. The firm says that while operating losses are expected for several years, support from parent company Fluor and and Department of Energy cost-share programs can offset costs until profits in 2028.