According to Goldman Sachs, uranium mining giant Kemeko and small modular reactor developer Nuscale are poised to benefit most from President Donald Trump’s recent executive order on nuclear power. Cameco and Nuscale rallied on Trump’s orders, winning nearly 16% and 20% respectively from Friday. Trump’s actions aim to boost uranium mining and enrichment in the country, deploy sophisticated reactors at defense and energy sector facilities, and force the Nuclear Regulation Authority to approve new reactor licenses within 18 months. Goldman analyst Brian Lee told his client in a memo. The company also manages a 49% stake in reactor developer Westinghouse. This said that if a large-scale AP1000 design is chosen for a new nuclear power plant to be built in Trump, his orders will focus on small, advanced nuclear reactors, but the administration also supports the construction of large-scale plants. “We’re talking about big plants too. It’s very big, the biggest,” Trump said. “We’re going to do them too,” according to Goldman’s Lee, when the design of the small modular reactor clears the NRC, Nuscale will benefit from it. The Department of Energy can choose Nuscale’s design to power AI data centers. Trump has directed the Energy Secretary to find a site owned by the department that can deploy data centers and advanced nuclear reactors together. Goldman has a purchase rating at Cameco, which reached its $65 target, meaning a rise of around 11% from its closing price of $58.69 per share on Friday. The investment bank is nuscale neutral with a $24 target, suggesting a 20% downside from its closing price of $30.24 per share on Friday.
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