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Investing.com - Citi has raised its price target on Oklo (NYSE:OKLO) to $68.00 from $30.00 while maintaining a Neutral rating on the stock. The company’s shares have shown remarkable momentum, delivering a 594% return over the past year, according to InvestingPro data.
The significant price target increase reflects Citi’s updated model incorporating Oklo’s larger reactor design, which the firm considers more NPV (Net Present Value) accretive.
Citi’s assumptions imply an NPV of approximately $3.3 per share per 75MW NOAK (Nth-Of-A-Kind) reactor, though the firm notes that details about the design remain scarce.
The new price target includes approximately 14GW of reactors becoming operational by year-end 2040, which compares to Oklo’s pipeline of more than 14GW.
Citi observes that the market appears to be giving full credit for Oklo’s pipeline, suggesting that any announcement regarding a partnership with OpenAI would likely drive the stock price higher.
In other recent news, Oklo Inc. has completed the U.S. Nuclear Regulatory Commission’s pre-application readiness assessment for its first commercial Aurora powerhouse project at Idaho National Laboratory. This assessment found no significant gaps that would prevent acceptance of the application, marking a regulatory milestone for the company. Oklo has been engaged with the NRC since 2016, advancing critical licensing elements, and plans to submit the first phase of the Aurora-INL combined license application this year. Additionally, Oklo has selected Kiewit Nuclear Solutions Co. as the lead constructor for the Aurora powerhouse, with pre-construction expected to begin in 2025. This selection was made through a competitive process evaluating technical capabilities and construction expertise. In another development, Cantor Fitzgerald has initiated coverage on Oklo with an Overweight rating and a $73 price target, highlighting the company’s small module reactor technology. The firm noted the shifting regulatory environment in favor of nuclear technology, positioning Oklo to potentially benefit significantly. Furthermore, recent comments from Secretary of Energy Chris Wright have signaled a potential regulatory shift that could benefit Oklo and other nuclear energy companies.
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