Northland initiated coverage of Terrestrial Energy with an Outperform rating and $15 price target. Terrestrial is commercializing an advanced molten salt nuclear reactor technology that has improved safety and operating characteristics compared to legacy light water reactor designs, notes the analyst, who also points out that the company has projects with the DOE and Texas A&M but trades at about a 37% discount to nuclear reactor peers despite what the firm sees as "these positive attributes."
