Analyst Subash Chandra of Benchmark Co. maintained a Buy rating on Nano Nuclear Energy Inc., retaining the price target of $45.00.
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Subash Chandra’s rating is based on Nano Nuclear Energy Inc.’s promising advancements in electromagnetic pump technology, specifically the Annular Linear Induction Pump (ALIP). This technology represents a significant innovation for advanced reactors, offering a safer and more efficient alternative to traditional mechanical pumps by eliminating moving parts and reducing wear and tear.
The successful testing of ALIP at high temperatures and its potential applications in molten salt and sodium-cooled reactors highlight its commercial viability. Additionally, the company’s strategic acquisition of intellectual property and pursuit of government awards, such as the SBIR III, position it favorably for future collaborations with agencies like NASA and the DOE, further supporting the Buy rating.
Chandra covers the Energy sector, focusing on stocks such as APA, Antero Resources, and Diamondback. According to TipRanks, Chandra has an average return of 7.0% and a 45.75% success rate on recommended stocks.