Altman-backed Oklo jumps on report of Trump plan to boost nuclear power, PT raise

Vermilion Energy

23/05/2025 13:25

** Shares of Sam Altman-backed nuclear technology firm Oklo OKLO.N jump 7.5% to $42.72 premarket

** Wedbush raises price target from $45 to $55, a 38.5% upside to the stock's last close

** Brokerage says executive order expected to be signed by President Donald Trump on Friday will be a significant tailwind for the nuclear industry with OKLO being one of the main beneficiaries

** Reuters reported on Friday that Trump would sign executive orders to streamline the regulatory process for new reactor approvals and enhance fuel supply chains

** "While the market remains competitive and currently represents an arms race in terms of the approval process and timelines to get power to the ground, we do believe OKLO is a step ahead of the competition" - brokerage

** As of last close, shares are up 87% YTD

 (Reporting by Katha Kalia in Bengaluru)

 ((Katha.Kalia@thomsonreuters.com))