Oklo Inc (NYSE: OKLO) shares are trading higher on Monday after Barclays began coverage of the nuclear energy company with an Overweight rating and set a price target of $146.
What Happened: Barclays initiated coverage on the advanced nuclear power startup, signaling bullish sentiment on the company’s growth potential. The $146 price target suggests substantial upside from current levels despite a 445% rally in shares year-to-date.
As Oklo continues its early-stage commercialization efforts, investors are viewing the positive Barclays initiation as an important vote of confidence in the company’s business model and market opportunity.
Oklo has a consensus Buy rating from analysts with an average price target of $88.82. The Street-high price target is $150 and the Street-low target currently sits at $44, per Benzinga data.
Oklo also announced a strategic partnership with Sweden-based Blykalla AB on Monday. The company will co-lead Blykalla’s next investment round with an approximate commitment of $5 million while creating a Joint Technology Development Agreement focused on materials, components, supply chain coordination and regulatory knowledge-sharing across the U.S. and European markets.
The partnership is one of the first transatlantic partnerships in the advanced nuclear reactor sector. Under the agreement, Oklo will potentially supply components directly to Blykalla and provide fuel fabrication services. The goal is to reduce costs and schedule risks, on top of increasing global commercialization of fast reactor technology.
“This partnership strengthens the growing advanced reactor ecosystem in the face of unprecedented global demand for power,” said Oklo CEO Jacob DeWitte.
Oklo is developing sodium-cooled fast-reactor powerhouses generating up to 75 megawatts, which would target industrial facilities, defense sites and data centers. The company has established partnerships with major players including Siemens, Korea Hydro & Nuclear Power and ABB.
OKLO Price Action: Oklo shares were up 5.22% at $116.27 at the time of publication on Monday, according to Benzinga Pro.
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