Nuclear power technology company Oklo Inc. (OKLO) grabbed investor attention after Citi analyst Vikram Bagri raised his price target from $68 to $95. Bagri praised the company’s strong performance and execution “on all fronts,” noting consistent operational progress. Meanwhile, Bagri reiterated his Hold rating on OKLO stock. Despite the price target hike, OKLO is down over 6% as of this writing on Tuesday.
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For context, Oklo is a nuclear technology company developing advanced small modular reactors, focusing on clean energy innovations. While the company is still unprofitable, investor interest remains strong, driven by its potential to power large-scale AI infrastructure. Year-to-date, OKLO stock has surged more than 300%.
Why Citi Raised Its Target on OKLO
Bagri’s price target increase came after Oklo’s Q3 earnings report and a meeting with management, reflecting optimism about the company’s progress across its projects. The analyst noted that the higher target takes into account the potential of Oklo’s radioisotope business and its growing value.
Notably, Oklo’s radioisotope business focuses on producing and supplying radioisotopes, which are unstable atoms that emit radiation and have applications in medical, industrial, and energy sectors.
Moreover, Bagri highlighted a dual-track licensing strategy for its reactors. The company is working with both the Nuclear Regulatory Commission (NRC) and the Department of Energy (DOE).
Overall, Bagri believes that the company is executing on all fronts — securing new supply contracts, following a dual-track licensing strategy, expanding its radioisotope business, and exploring new ways to source fuel.
Is OKLO a Good Stock to Buy?
Overall, Wall Street has a Moderate Buy consensus rating on OKLO stock, based on seven Buys and eight Holds assigned in the last three months. The average share price target for Oklo is $125.30, which implies an upside of 50% from current levels.
