We recently published a list of 8 Stocks on Jim Cramer’s Radar. In this article, we are going to take a look at where NuScale Power Corporation (NYSE:SMR) stands against other stocks on Jim Cramer’s radar.
During the lightning round, a caller asked for Cramer’s insight on NuScale Power Corporation, and he commented:
“But why don’t we just buy GE Vernova? I mean, you know, it’s been a winner for the club. I think it can go higher. I really like it. Look, they’re both parabolic. Nuscale has been straight up, and so has GE Vernova, but GE Vernova’s got a book of business. That’s what I like.”
A Nuclear power plant with all its safety & security protocols in place.
NuScale develops small modular reactor technology, including its NuScale Power Module, a water reactor designed to produce 77 megawatts of electricity per module. Earlier in March, when Cramer was asked about NuScale, he showed skepticism as he said:
“You know, I kept waiting for more deals to occur and waiting and waiting. It’s a new year and they’re not happening. And I’m not seeing them from Vernova. I’m not seeing them from anyone. So I’ve become very, very skeptical.”
On May 29, Canaccord analyst George Gianarikas increased the price target on NuScale Power from $26 to $35 while maintaining a Buy rating. The firm noted that the NRC website confirms approval of NuScale’s 77 MWe per module uprate. The approval eliminates a concern for investors and opens the door for a possible firm order before year-end.
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This article is originally published at Insider Monkey.
