Oklo initiated with a Neutral at UBS

UBS initiated coverage of Oklo (OKLO) with a Neutral rating and $65 price target The firm is “cautiously optimistic” on the potential for a broader U.S. nuclear infrastructure build-out but awaits further commercialization progress. Oklo has the potential to deploy the first commercial small modular reactor in the U.S. and has a “substantial” total addressable market of $75B per year, the analyst tells investors in a research note. However, UBS says there are risks in nuclear project development while the stock’s valuation is elevated relative to the broader nuclear space.