Oklo $OKLO ( ▲ 1.57% ) is getting a boost on Wall Street. Citi bumped its price target to $95 from $68 after meeting with the nuclear startup’s leadership and seeing what it called clear progress across multiple parts of the business. Shares are trading around $90, putting the new target within reach.
The firm pointed to momentum in Oklo’s reactor licensing strategy, early wins in its new radioactive fuel supply business that came from a March acquisition, and the company’s ability to borrow at cheaper-than-expected rates. In a note to clients, Citi said Oklo is executing on all fronts with new supply contracts for long lead time materials, a dual-track licensing plan, and new efforts to secure additional fuel.
The licensing strategy is especially notable. Oklo is pursuing approval for its advanced reactors on parallel paths through both the Nuclear Regulatory Commission and the Department of Energy. The DOE path, which has become more active under the Trump administration, allows faster authorization for early-stage experimental reactors while the traditional NRC process continues in the background.
The optimism comes with a big caveat. Oklo still has no revenue and analysts do not expect meaningful sales until 2028. Even then, the company is projected to still be posting losses while it builds out its nuclear footprint.