SMR stock surges 10% – what's fueling Nuscale Power Corp's rise today?

SMR stock: NuScale Power Corp. shares jumped Friday after Bank of America shifted its view on the small modular reactor company, sparking renewed interest in the stock following a recent pullback.

SMR stock jumps after Bank of America upgrade

SMR rose more than 10% on Friday after BofA upgraded the stock to Neutral from Underperform, according to a report. The upgrade comes after NuScale shares fell nearly 9% over the past month.

SMR stock price target: BofA's prediction still implies upside for NuScale Power Corp stock

While BofA lowered its price target to $28 from $34, the new target still suggests roughly 42% upside from Thursday’s closing price, as per a Stocktwits report.


In its note, BofA said it now sees NuScale’s deployment prospects as closer to its base case. The firm highlighted the company’s derisked light-water reactor design and its licensing agreement with the Tennessee Valley Authority as factors supporting NuScale’s credibility.

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NuScale reactor design and TVA deal boost credibility

Regulatory progress also remains a key part of the story. In May 2025, the US Nuclear Regulatory Commission approved NuScale’s uprated reactor design after the company increased the module’s capacity to 77 megawatt-electric, up from 50 MWe. That approval made NuScale’s design the second small modular reactor to receive clearance from the NRC.

Further attention has been drawn to the company’s technology through a September 2025 agreement in which the TVA partnered with ENTRA1 Energy to deploy up to six gigawatts of nuclear power capacity using NuScale’s SMR technology, as per the Stocktwits report.

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Despite the positive developments, BofA cautioned that limited contract visibility could restrain near-term gains in the stock.

Another investor noted that continued acceleration in AI adoption could keep energy providers tied to next-generation power solutions in a long re-rating phase.

SMR stock performance: year-to-date vs 12 months

SMR stock is up 39% year to date, though it remains flat over the past 12 months, as Friday’s surge reflects fresh optimism following a recent correction.

FAQs

What rating did BofA give NuScale Power?
BofA upgraded the stock from Underperform to Neutral.

What is BofA’s new price target for SMR?
The firm lowered its target to $28 from $34.