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Analyst Ryan Pfingst said, "We are initiating coverage of Oklo Inc. (OKLO) with a Buy rating and a $10 price target based on our belief that 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. 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. We believe Oklo's business model enables several key operational and regulatory advantages. Traditionally, large nuclear reactor developers sell or license their reactor designs to utilities that then construct and operate the plants. As the owner-operator, Oklo can pursue a combined license application (COLA) for design, construction, and operations together, likely reducing NRC approval timelines and regulatory costs. Oklo has shown impressive progress on the customer front, with its customer pipeline nearly doubling Y/Y from ~700 MW in July 2023 to 1,350 MW as of August 2024. The company is targeting its first deployment at Idaho National Laboratory (INL) in 2027, which will likely be the first advanced nuclear reactor to become operational. While the stock is likely to remain volatile given the long-term nature of the story, we believe potential near- to mid-term catalysts in the form of new customers, regulatory approvals, and project execution offer sources of potential upside."