Piper Sandler analyst Dimple Gosai has initiated coverage on several advanced nuclear energy companies, issuing divergent ratings. Oklo received a Buy rating with a price target of $55, while X-Energy was assigned a Sell rating with a target of $9.
Following the report, sector stocks declined. Oklo shares fell by approximately 4.5%, X-Energy dropped by about 3.9%, and NuScale Power also saw a decrease in value. The broader nuclear market has faced sustained pressure throughout 2026, with the VanEck Uranium + Nuclear ETF retreating from previous highs.
The analyst highlighted differences in business models. Oklo utilizes a build-own-operate structure, which Piper Sandler considers bankable due to vertical integration. Conversely, the Sell rating for X-Energy reflects concerns regarding the company's project structure and valuation relative to execution risks.
The $55 target for Oklo suggests a 27% upside from its recent trading price of $43. In contrast, the $9 target for X-Energy implies a 53% downside from its trading level of $19.15. Analysts noted that the sector faces challenges due to lengthy licensing processes and long construction timelines.
