SMR Stock Forecast & Price Target

NuScale Power is attractive fundamentally because it combines the only NRC-approved SMR design with industry-proven light-water reactor technology, giving it a credible path to commercialization while reducing technical execution risk versus more novel reactor concepts. The recent Doosan manufacturing agreement shifts the first NPM from engineering into production, while a 60+ partner supply chain, $25.8M of Paragon contracts, and fuel-supply work with Framatome and Curio strengthen readiness for deployment. Financially, the company ended 3Q26 with about $1.9 billion in cash and investments and no debt, providing substantial runway to fund first-article fabrication, licensing, and project advancement as TVA and Romania progress.

NuScale Power is viewed negatively because it remains effectively pre-revenue, has not secured a binding OEM contract, and depends on a lengthy, multi-step FID process that keeps timing risk elevated. The company’s commercialization pathway still hinges on unresolved ENTRA1/TVA and RoPower progress, while heavy reliance on partners, capital-intensive project financing, and an inexperienced labor base raise the odds of delays, cost overruns, or even project cancellations. Financially, operating losses are already substantial, with R&D up $7.0M year over year to about $18.1M, G&A up roughly $16M, other expenses up $8.1M to about $19.0M, and a $65M loss from operations, implying continued dilution risk from future funding needs.