NuScale Power Price Target Lowered by RBC Capital Amidst Ongoing Concerns

RBC Capital adjusted NuScale Power Corp.'s price target to $7 from $10. The firm maintained its Sector Perform rating on the stock.

The target cut follows a recent downgrade to "Sell" from UBS. Pomerantz LLP announced a securities fraud investigation. The stock hit a new 52-week low on the previous day.

Analysts cite concerns over the company's cash burn. They also note long timelines for its projects. Furthermore, analysts perceive an erosion of its first-mover advantage in the small modular reactor (SMR) space.