Stifel Nicolaus analyst Stephen Gengaro has maintained their bullish stance on FRMI stock, giving a Buy rating on November 26.
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Stephen Gengaro has given his Buy rating due to a combination of factors related to Fermi Inc.’s ongoing negotiations and strategic positioning. Despite a recent setback with a key tenant attempting to alter the terms of their letter of intent, Fermi’s management remains optimistic about reaching an agreement, either with this tenant or another from their pipeline. This confidence is bolstered by the company’s proactive efforts to accelerate the onboarding of potential clients originally slated for 2027 to 2026.
Additionally, the LOI with the initial tenant remains active, and Fermi has met the necessary conditions for its lease from Texas Tech University, which is not at risk of cancellation. These developments suggest a resilient business strategy and potential for future growth, underpinning the Buy rating. Gengaro’s analysis reflects a belief in Fermi’s ability to navigate current challenges and capitalize on upcoming opportunities in the energy services sector.
In another report released on November 26, Mizuho Securities also reiterated a Buy rating on the stock with a $27.00 price target.