B. Riley starts Oklo with Buy on advanced nuclear technology

B. Riley last night initiated coverage of Oklo with a Buy rating and $10 price target. The company’s advanced nuclear technology will continue to garner customer interest and ultimately provide reliable, carbon-free power with attractive economics for end users, the analyst tells investors in a research note. The firm says Oklo is pursuing an owner-operator model with the intention of selling power directly to customers under long-term contracts, unique in the nuclear industry. While the stock is likely to remain volatile “given the long-term nature of the story,” potential near- to mid-term catalysts in the form of new customers, regulatory approvals, and project execution offer sources of potential upside, contends Riley.