6吉瓦协议被指“画饼”，花旗下调核能新贵NuScale(SMR.US)至“卖出”评级

智通财经10-22

智通财经APP获悉，花旗将美国小型模块化核反应堆开发商NuScale Power(SMR.US)的评级从“中性”下调至"卖出"，目标价37.50美元。该公司周二股价下跌12.8%。花旗指出下调原因包括："具有约束力的客户合同仍难以落实、新进入者的竞争加剧、大股东Fluor继续减持股份带来压力，以及公司估值过高。"花旗分析师估计，NuScale当前的股价隐含了到2040年约16吉瓦的反应堆建设预期，...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2577335357?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2025-10-22 11:10","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2577335357","market":"hk","top_or_hot":-1,"title":"6吉瓦协议被指“画饼”，花旗下调核能新贵NuScale(SMR.US)至“卖出”评级","media":"智通财经","content":"<div>\n<p>智通财经APP获悉，花旗将美国小型模块化核反应堆开发商NuScale Power(SMR.US)的评级从“中性”下调至\"卖出\"，目标价37.50美元。该公司周二股价下跌12.8%。花旗指出下调原因包括：\"具有约束力的客户合同仍难以落实、新进入者的竞争加剧、大股东Fluor继续减持股份带来压力，以及公司估值过高。\"花旗分析师估计，NuScale当前的股价隐含了到2040年约16吉瓦的反应堆建设预期，...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1357945.html\">网页链接</a>\n\n</div>\n","source":"stock_zhitongcaijing","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>6吉瓦协议被指“画饼”，花旗下调核能新贵NuScale(SMR.US)至“卖出”评级</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n6吉瓦协议被指“画饼”，花旗下调核能新贵NuScale(SMR.US)至“卖出”评级\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-10-22 11:10 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.zhitongcaijing.com/content/detail/1357945.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>智通财经APP获悉，花旗将美国小型模块化核反应堆开发商NuScale Power(SMR.US)的评级从“中性”下调至\"卖出\"，目标价37.50美元。该公司周二股价下跌12.8%。花旗指出下调原因包括：\"具有约束力的客户合同仍难以落实、新进入者的竞争加剧、大股东Fluor继续减持股份带来压力，以及公司估值过高。\"花旗分析师估计，NuScale当前的股价隐含了到2040年约16吉瓦的反应堆建设预期，...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1357945.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SMR","symbol_name":"NuScale Power","start_time":0,"source_url":"http://www.zhitongcaijing.com/content/detail/1357945.html","article_id":"2577335357","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2577335357","pubTimestamp":1761102608,"columns":[],"sourceInfo":{"source_id":"stock_zhitongcaijing","name":"智通财经网"},"weMediaInfo":null,"summary":"智通财经APP获悉，花旗将美国小型模块化核反应堆开发商NuScale Power的评级从“中性”下调至\"卖出\"，目标价37.50美元。花旗指出，即使协议签署，NuScale仍需获得原始设备制造商协议来供应核电站模块，因此电力采购协议的时间表和合同签署仍存不确定性。花旗报告提到，若6吉瓦协议全面达成，NuScale可能需分多期向ENTRA1投入约5亿美元，但截至2025年第二季度，公司现金及等价物仅4.2亿美元。","collect":0,"end_time":0,"defaultTopTitle":"zhitongcaijing.com","property":["rate"],"viewcount":null,"language":"zh","relate_stocks":{"SMR":"NuScale Power","URA":"Global X Uranium ETF"},"translate_title":"Citigroup downgraded nuclear upstart NuScale (SMR.US) to \"sell\" rating as the 6 GW deal was accused of \"painting the pie\"","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"URA":1.5,"SMR":1.5},"content_text":"智通财经APP获悉，花旗将美国小型模块化核反应堆开发商NuScale Power(SMR.US)的评级从“中性”下调至\"卖出\"，目标价37.50美元。该公司周二股价下跌12.8%。花旗指出下调原因包括：\"具有约束力的客户合同仍难以落实、新进入者的竞争加剧、大股东Fluor继续减持股份带来压力，以及公司估值过高。\"花旗分析师估计，NuScale当前的股价隐含了到2040年约16吉瓦的反应堆建设预期，而该行预测美国届时总安装量约为56吉瓦。花旗认为，\"在竞争激烈的市场中，如此高的市场份额预期不切实际，尤其考虑到该公司尚未锁定任何客户。\"NuScale曾表示目标是在2025年底前达成一份客户协议，目前框架是与田纳西河流域管理局及开发商ENTRA1就潜在6吉瓦电力采购协议进行的非约束性合作。花旗指出，即使协议签署，NuScale仍需获得原始设备制造商协议来供应核电站模块，因此电力采购协议的时间表和合同签署仍存不确定性。花旗报告提到，若6吉瓦协议全面达成，NuScale可能需分多期向ENTRA1投入约5亿美元，但截至2025年第二季度，公司现金及等价物仅4.2亿美元。分析师表示，\"我们认为市场对该交易预期过高，因其时间线可能长于预期，且资金需求压力巨大。该交易并非板上钉钉，公司也缺乏可靠的短期客户作为后备，除非有新进入者，否则只能依赖现有项目——但我们认为这种情况不太可能发生。\"花旗同时维持对Plug Power的\"卖出\"评级，称其分析师认为人工智能和数据中心相关支出不会为公司带来直接收益。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"rating","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.35.9","shortVersion":"4.35.9","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2577335357","isCrawlerRequest":true}