Key Takeaways
- Oklo shares fell but are now up today after TD Cowen initiated coverage at Hold with a $26 price target, and Centrus Energy fell 1% after getting a Hold in the same report.
- TD Cowen likes Oklo’s plan to recycle fuel in fast reactors but says the costs and execution are still uncertain.
- Citi, Truist and TD Cowen have all landed at $33 or lower in less than a week, far below the $69 consensus target.
- Oklo needs to give a cost for its first plant and sign a binding power contract, and its third-quarter report on Nov. 6 is the next test.
Oklo (OKLO) are now up 2% today after TD Cowen analyst Marc Bianchi initiated coverage at Hold with a $26 price target, a hair below Friday’s close. The same nuclear fuel-cycle report put Centrus Energy (LEU) at Hold with a $120 target, and its shares fell 1%.
Bianchi says Oklo offers a “unique way” to invest in nuclear, as the only public company developing a sodium fast reactor that plans to recycle its own fuel. But TD Cowen says the costs and execution are still uncertain, and its work suggests recycling may need higher uranium and enrichment prices to make economic sense.
Three Holds in a week
It’s the third cautious call on Oklo in less than a week. Citi cut its target to $33 from $57.50 on Oct. 21, keeping a Neutral rating, and Truist cut its target to $31 from $51 the next day, keeping a Hold.
The average target has slid from $106 a year ago to $69…
And the newest calls are landing much closer to the share price.
The bill comes first
Oklo’s first revenue, $1.21 million in the second quarter of 2026, came mostly from two engineering firms it bought in June. Analysts expect just $9 million in 2027 and $49 million in 2028…
Meanwhile, Oklo held $3.0 billion of cash and marketable securities at June 30, 2026, and analysts expect it to burn $6.3 billion of free cash flow from 2026 through 2030. That gap is why its share count keeps climbing.
Centrus sits on the fuel side of that bill: in June, it signed a letter of intent to supply enriched fuel for up to five Aurora plants, with deliveries from 2029.
TIKR tracks 24 analysts on Oklo. How many say “Buy”?
See the full breakdown of Buy, Hold, and Sell ratings on Oklo, along with Wall Street’s revenue and earnings estimates, all in one place. More than 500,000 investors use TIKR to research stocks like this one. See Oklo’s Analyst Ratings
What it’ll take to win the Street back
Oklo needs to put a price on its first plant and sign a customer. Management hasn’t given a cost for Aurora-INL, its Idaho reactor, on three calls since November 2025. It also said in March that it expected a power contract with Meta for its Ohio campus over roughly the next year.
My take: TD Cowen’s Hold is the right call until both show up. Until then, the cash burn and the share sales are the story.
The next read comes before the open on Nov. 6, when Oklo reports its third quarter. Watch how much it spent on plants, and how much stock it sold to pay for them.
So what is Oklo stock actually worth?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any of the stocks mentioned. Thank you for reading, and happy investing!
