Nano Nuclear Jumps 42% After Benchmark More Than Doubles Target

Tiger Newspress06-25

Benchmark raised the firm's price target on Nano Nuclear Energy to $39 from $15 and keeps a Buy rating on the shares.

Nano Nuclear shares jumped 41.5% in morning trading. The shares has soared about 300% this month.

The company has enjoyed solid momentum since its initial public offering last month, with the U.S. Senate's 88-2 passage of the ADVANCE act last week, coupled with its announced acquisition of ALIP IP, the analyst tells investors in a research note.

With the stock at current levels, Benchmark's share count now increases to 38M shares versus its previous estimate of 55M shares in its 20-year net asset value calculation.

This, combined with reducing the stock's 30% discount rate assumption to 25%, reflecting Nano's improved capital positioning, produces a $39 target price, the firm points out.

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