H.C. Wainwright analyst Sameer Joshi reiterated a Buy rating on Nano Nuclear Energy Inc. today and set a price target of $50.00.
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Sameer Joshi has given his Buy rating due to a combination of factors that highlight the strategic focus and potential growth of Nano Nuclear Energy Inc. A key aspect of this rating is the company’s concentrated efforts on advancing the KRONOS micro modular reactor through the regulatory process, aiming for a construction permit application by late 2025 or early 2026. This disciplined approach, coupled with the decision to avoid unnecessary participation in the U.S. Department of Energy’s Reactor Pilot Program, underscores the company’s commitment to its development timeline and commercialization goals.
Additionally, the company’s strategic partnerships, such as with the University of Illinois, Urbana-Champaign, position it well for focusing on plant design and commercialization, while leveraging the university’s expertise in regulatory matters. The recent stock pullback presents a more attractive entry point for investors, as the company is poised for significant revenue growth, projected to reach nearly $4 billion by FY2037. Despite the inherent risks, the potential for substantial gross margins and the strategic execution of its plans support the Buy rating with a price target of $50.00.
According to TipRanks, Joshi is a 4-star analyst with an average return of 25.3% and a 37.04% success rate.
In another report released on August 15, Northland Securities also maintained a Buy rating on the stock with a $40.00 price target.