Oklo Stock Surges As Wedbush Hikes Price Target On Nuclear Energy Playing ‘Key Role’ In Stargate: Retail Turns Bullish

Oklo, based in Santa Clara, California, develops small modular reactors (SMR). Its product roadmap includes a 15-megawatt, a 50-megawatt, and a 100-megawatt nuclear reactor.

Shares of Oklo Inc. (OKLO) surged nearly 4% in morning trade on Friday after analysts at Wedbush raised their price target for the stock amid ramping up of artificial intelligence (AI) data center buildout.

In their latest note on Oklo, Wedbush analysts believe that the $500 billion Project Stargate is a “much bigger initiative” where nuclear energy will play a “key role” in powering AI data centers set to be built to fuel research under this program.

Apart from backing Oklo, OpenAI co-founder and CEO Sam Altman is also the chairman of the nuclear technology company.

Oklo, based in Santa Clara, California, develops small modular reactors (SMR). Its product roadmap includes a 15-megawatt, a 50-megawatt, and a 100-megawatt nuclear reactor.

Wedbush has bumped its price target for the stock to $45 from $26, implying an upside of over 11% from current prices. It has an ‘Outperform’ rating on the stock.

 “The AI Revolution is driving significant demand for clean energy to power AI initiatives with necessary computing power expected to grow 10x by 2030, putting OKLO is a great position to capitalize on this elevated demand,” Wedbush said, underlining its bull thesis for Oklo.

Retail sentiment on Stocktwits soared following the price target hike, entering the ‘bullish’ (64/100) territory from ‘neutral’ a day ago. Message volume surged significantly to enter the ‘extremely high’ (89/100) zone.

Users echoed the positive outlook for Oklo stock price.

Oklo’s share price has surged nearly 374% over the past six months, while its one-year returns stand at 266%.

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