Fermi initiated with a Buy at Rothschild & Co Redburn

Rothschild & Co Redburn analyst Skye Landon initiated coverage of Fermi (FRMI) with a Buy rating and $31 price target The firm says Fermi is a pure-play on artificial intelligence which provides a “differentiated” large-scale off-grid power solution. While the company faces risks, its progress to date “is impressive” and the stock’s valuation risk/reward is skewed to the upside, the analyst tells investors in a research note. Rothschild sees a “clear path to derisking the equity story” over the next 12-18 months.