Wedbush analyst Daniel Ives raised the firm’s price target on Oklo (OKLO) to $75 from $55 and keeps an Outperform rating on the shares after the company announced it has been issued a notice of intent to award by the Defense Logistics Agency Energy to provide reliable nuclear power to the Eielson Air Force Base in Alaska. This represents the first step in the Department of Define taking a large role in ordering reactors from Oklo and installing them on military bases, the analyst tells investors in a research note. Wedbush believes Oklo continues to build off its “significant momentum” following the Executive Order signed by President Trump in May to accelerate the U.S. nuclear energy industry by easing the regulatory process on approvals for new reactors and strengthening fuel supply chains. The Trump administration “continues to go all in on AI which will significantly increase the need for computing power,” the firm adds. It believes Oklo is in a “great position” to capitalize on this elevated demand and differentiate itself from competition. The company is a “clear leader on the nuclear front that is just starting to play out,” Wedbush contends.
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