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Although Oklo Inc's (NYSE:OKLO) stock has had an exceptional run and there are concerns around a potential AI market bubble, a new nuclear age seems to be emerging, "where nuclear assets grow not only in volume but as a percentage of the global energy mix," according to Canaccord Genuity.
The Oklo Analyst: Analyst George Gianarikas initiated coverage with a Buy rating and price target of $175.
The Oklo Thesis: The demand for nuclear energy is likely to remain robust in the long run regardless of the rising AI demand, Gianarikas said in the initiation note.
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While AI and nuclear technologies are poised to drive the one another's growth, the demand for greater supplies of clean power could fuel nuclear energy demand, he added.
Oklo's reactor buildouts are likely be financed mainly with debt and be supported by investment tax credits, the analyst stated. "This financing mix could help bolster long-term returns on capital with, potentially, minimal requirements for additional equity," he wrote.
Oklo is emerging as a new energy leader, which is a "vertically integrated, global distributed nuclear energy utility," Gianarikas further said.
OKLO Price Action: Shares of Oklo had risen by 2.36% to $137.96 at the time of publication on Thursday.
Read More: This Oklo-Linked ETF Has Already Surged 62% In October, After September’s 101% Jump
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Posted In: OKLO
