Oklo initiated Buy at BofA, citing largest visible pipeline with hyperscaler upside

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Oklo (NYSE:OKLO [https://seekingalpha.com/symbol/OKLO]) +3.9% in Tuesday's trading as Bank of America started coverage with a Buy rating and $92 price target, pointing to rising momentum for nuclear power, backed by both the U.S. Department of Energy and data center operators, with Oklo well positioned to meet the rising energy needs of AI.

BofA said Oklo (NYSE:OKLO [https://seekingalpha.com/symbol/OKLO]) has the largest publicly disclosed customer pipeline of the small modular reactor developers it tracks, with more than 14 GW of MoUs, or ~30% of the global pipeline; for operators needing power today, Oklo plans to bridge the gap through its partnership with Liberty Energy, offering ~75 MW of gas-fired "prompt power," enabling earlier monetization and smoother path to SMR deployment.

The analysts see Oklo's (OKLO [https://seekingalpha.com/symbol/OKLO]) vertically integrated build-own-operate model as best positioned to succeed in the early phase of the SMR market, and by taking balance sheet risk, the company can deliver fully wrapped, bankable power purchase agreements and capture the full IPP economics.

Oklo's (OKLO [https://seekingalpha.com/symbol/OKLO]) reliance on HALEU fuel adds risk, but the company already has secured HALEU from Department of Energy stockpiles for its first project, de-risking early deployment, and Oklo also can draw on ~60 tons of excess weapon-grade plutonium, enough for 30–40 of its 75 MW units at 70%-80% lower cost than fresh HALEU, according to BofA.

MORE ON OKLO

* Market Enthusiasm Has Gone Nuclear: Sell Oklo [https://seekingalpha.com/article/4815407-market-enthusiasm-has-gone-nuclear-sell-oklo]
* Oklo: The Dark Horse Of Nuclear Energy [https://seekingalpha.com/article/4812207-oklo-the-dark-horse-of-nuclear-energy]
* Everyone's Chasing Oklo, But We're Stepping Back (Rating Downgrade) [https://seekingalpha.com/article/4805941-everyone-chasing-oklo-stepping-back-rating-downgrade]