Fermi initiated with an Outperform at Mizuho

Mizuho initiated coverage of Fermi (FRMI) with an Outperform rating and $27 price target The company aims to deliver data centers, and 11GW of power, to hyperscalers over the next decade, the analyst tells investors in a research note. The firm sees Fermi’s “key differentiator” as being both landlord and a power generation company. Mizuho likes the stock’s risk/reward, with its bull case having the shares double.