Stock market today: Stocks fall as investors rotate out of tech into Jackson Hole
Investing.com -- Shares of Oklo (NYSE:OKLO) surged 21% following an upgraded price target from B. Riley analyst Ryan Pfingst. The analyst raised the target to $58 from $27 while maintaining a Buy rating on the stock, contributing to the company’s significant year-to-date increase.
Oklo’s stock has experienced a remarkable ascent, climbing 172% since the beginning of the year and 440% over the past twelve months. The recent price target adjustment reflects a positive outlook from analysts, particularly in light of the connections between Oklo and recent developments in the AI and nuclear sectors.
Ryan Pfingst’s analysis points to the broader industry dynamics influencing Oklo’s stock performance. The announcement of Project Stargate by President Trump, which involves a substantial investment in AI infrastructure in the U.S., has cast a spotlight on Oklo. Although no formal agreement between Oklo and Project Stargate has been announced, the company’s stock has benefited from its association with OpenAI CEO Sam Altman, who also serves as the Chairman of Oklo.
The analyst’s comments also address the impact of DeepSeek’s claims on the AI industry, suggesting that despite skepticism, advancements in AI could accelerate the demand for power, potentially benefiting companies like Oklo. Pfingst emphasized the confirmation of Chris Wright as Energy Secretary, a proponent of nuclear power, and his previous affiliation with Oklo’s board.
Furthermore, an MOU between Oklo and RPower was highlighted, which aims to expedite power availability for data centers. This phased power model would initially utilize RPower’s natural gas generators, with a transition to Oklo’s nuclear power solutions when available, eventually positioning Oklo’s powerhouses as the primary energy source.
In his statement, Pfingst said, "Our nuclear and uranium coverage had a volatile first month of 2025... Momentum was briefly halted on Monday, 1/27, as reports about Chinese-developed DeepSeek upended high-flying AI-related stocks... We note Chris Wright was confirmed as Energy Secretary this week... We are updating our models for next-gen nuclear reactor companies Buyrated NuScale (SMR) and Oklo (OKLO). Our price targets rise from $14 to $28 for SMR and $27 to $58 for OKLO."
Investors appear to be responding to these developments and the analyst’s positive sentiment, as reflected in Oklo’s stock’s substantial rise during the trading session.
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