NuScale Power Stock Will Spike 23.7% Over the Next 11 Months According to This Wall Street Analyst

Bank of America analyst Rinny Singh reiterates a buy rating on SMR with a $12 price target, representing 24% upside from current levels. The call comes despite SMR shares falling 40% in 2026, with Singh's thesis centered on the company converting its non-binding 6-gigawatt Tennessee Valley Authority project into a firm power-purchase agreement by the end of 2026.

The analyst points to SMR's strengthened balance sheet as a key risk reducer. The company now holds $1.9 billion in cash, addressing earlier concerns about its ability to fund operations and commercialization efforts. This financial cushion positions SMR to execute on the TVA catalyst without the funding uncertainty that previously weighed on the stock.

The TVA project represents SMR's largest potential deployment to date. A successful conversion from non-binding to firm contract through a PPA would mark a critical inflection point for the small modular reactor developer, providing revenue visibility and validating its commercial-scale deployment strategy.