Backed by OpenAI’s Sam Altman, Oklo Inc. (NYSE: OKLO) develops advanced fission power plants to provide clean, reliable, and affordable energy at scale to customers in the United States.
On May 22, BofA analyst Rinny Singh reinstated coverage of Oklo with a “Buy” rating and a price target of $80, indicating an upside of over 17% from current levels.
The analyst firm believes Oklo’s differentiated, vertically integrated “build-own-operate” model positions it as a “potential early leader” in the small modular reactor industry.
BofA highlighted Oklo’s 1.2 GWe binding power agreement signed with META in January as a significant commercial milestone for the company.
The firm also pointed to Oklo’s pipeline of over 14 GWe under non-binding customer letters, signaling robust and growing demand across the emerging SMR sector.
BofA said this early commercial traction reinforces its conviction in the company’s long-term outlook, with Oklo emerging as one of the biggest players in the SMR space.
The company’s hyperscaler contracts and its demonstration reactor remaining on track have further strengthened investor confidence in Oklo’s development trajectory.
The $80 price target set by BofA reflects a meaningful premium to where the stock was trading at the time of the reinstatement, underscoring the firm’s bullish stance.
Oklo’s vertically integrated business model distinguishes it from many competitors in the nuclear energy sector, giving the company greater control over its operations and cost structure.
The growing pipeline of customer commitments, combined with a binding agreement already in place, positions Oklo as a commercially advanced player relative to many of its SMR industry peers.
The reinstatement of coverage with a buy-side rating from a major Wall Street firm adds further institutional credibility to Oklo’s standing in the rapidly evolving nuclear energy landscape.
