Goldman and Citi cut NuScale price targets after Q1 reset

Goldman Sachs cut its NuScale Power price target to $9 from $10 (Neutral) and Citi cut to $7 from $9 (Sell), with both moves landing on June 3 amid a roughly 13% intraday slide and a wave of investor scrutiny following Q1 revenue of just $0.6M, a ~$44M net loss, and ~$316M of negative free cash flow. The downgrades come even as NuScale advances the 6-module RoPower project in Romania, a potential 6 GW ENTRA1/TVA program in the U.S., and an expanded Framatome fuel-supply deal - but underline how dependent the company's roughly $1B liquidity runway is on turning that pipeline into firm orders.