NuScale Power Corporation (NYSE: SMR) saw its stock surge 5.17% in Thursday's intraday trading session, fueled by positive sentiment surrounding the nuclear power industry and the company's promising growth prospects.
The rally in nuclear-related stocks came after South Carolina power provider Santee Cooper announced plans to seek buyers to restart construction of two reactors at its V.C. Summer Nuclear Station. This move reflects the growing demand for clean energy sources from major tech companies like Amazon and Microsoft to power their data centers and artificial intelligence capabilities.
In addition to the industry tailwinds, a recent valuation analysis by analysts suggested that NuScale Power's stock is currently undervalued, trading at a discount compared to its intrinsic value of $39.70. The company is expected to deliver strong growth, with profit forecasted to increase by 28% over the next couple of years, further supporting the stock's upward momentum.
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