Benchmark Co. analyst Subash Chandra maintained a Buy rating on Nano Nuclear Energy Inc. (NNE – Research Report) yesterday and set a price target of $45.00.
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Subash Chandra has given his Buy rating due to a combination of factors that highlight Nano Nuclear Energy Inc.’s strategic advancements and partnerships. The company is on track to submit a Construction Permit for its Kronos research reactor by the end of the year, following the approval of its TRISO fuel qualification methodology. This approval is a significant milestone as it addresses one of the major uncertainties in advanced reactor development, namely the safety and effectiveness of new fuel forms.
Furthermore, Nano Nuclear Energy Inc. has secured an adequate supply of LEU+ to navigate the regulatory process until it can establish productive capacity. The collaboration with Standard Nuclear and its joint venture with Framatome, Tritonic, positions the company well in terms of fuel fabrication capacity. The anticipated submission of a Preliminary Safety Analysis Report by year-end and the strategic partnership with the University of Illinois, which already has regulatory permissions, further support a positive outlook for the company’s regulatory progress and timeline.
According to TipRanks, Chandra is a 4-star analyst with an average return of 3.9% and a 40.34% success rate. Chandra covers the Energy sector, focusing on stocks such as Devon Energy, Kosmos Energy, and Matador Resources.