OKLO
Still a Buy, just not as pricey
Oklo got the classic Wall Street compliment-then-plot-twist treatment: the Buy rating stayed put, but the price target slid from $99 to $88 thanks to dilution. Translation: the analyst still likes the story, but the share count is doing a bit of corporate yoga.
The execution story is getting less hypothetical
The more interesting part is that this wasn’t just another “we believe in the future” note. The writeup says Q2 2026 showed real progress, including:
- Groves reaching first criticality
- Aurora-INL moving forward
- Aurora-Ohio locking in key agreements
That matters because Oklo’s valuation lives and dies on whether its advanced nuclear plans turn from sci-fi mood board into actual infrastructure. Every step toward first power, fuel, and isotope revenue makes the story a little less vibes-based.
Why investors should care
The analyst’s normalized EBITDA estimate was nudged up to $443 million, which suggests the long-term thesis is still getting a bit sturdier, even if dilution clipped the upside price target. For a company like Oklo, the big question isn’t whether the market likes the concept — it’s whether the projects keep stacking up without the equity story becoming too watered down.
Big picture: Oklo is still being treated like a serious AI power trade, but now with a slightly less euphoric sticker price.