Bank of America’s securities arm just gave Oklo, the small modular reactor company that went public two years ago, its stamp of approval. BofA Securities initiated coverage on the stock with a Buy rating and an $80 price target, implying roughly 23% upside from current trading levels.
The stock ticked up about 2% on the news.
What’s driving the bullish call
Oklo has secured a binding power agreement with Meta for 1.2 gigawatts of capacity. Beyond the Meta contract, Oklo has racked up over 14 gigawatts in additional non-binding letters of intent from other customers.
BofA’s analysts contrasted Oklo favorably against NuScale Power, a competing small modular reactor company that received only a neutral rating. The differentiation appears to come down to commercial traction: Oklo’s customer pipeline is significantly larger and anchored by one of the world’s most valuable technology companies.
