Shares of NANO Nuclear Energy Inc. (NNE) surged over 9% in pre-market trading on Tuesday, driven by bullish analyst coverage that highlighted the company's promising growth prospects in the emerging micro and small nuclear reactor industry.
H.C. Wainwright initiated coverage on NNE with a "buy" rating and an ambitious price target of $50, more than double the stock's current level. The investment firm cited several key factors underpinning its positive outlook on the nuclear energy company.
Notably, analysts praised NNE's full-stack participation across the nuclear value chain, which they believe gives the company an early-mover advantage in shaping the nascent micro and small reactor market. Additionally, H.C. Wainwright expects NNE's fuel fabrication facility approval process to be completed by 2028, with initial revenue of $7-8 million in 2030, growing to over $50 million by 2037. The firm also projects NNE's fuel transportation business to generate $1-3 million in revenue in its first year of operation in 2027, gradually increasing to $25-30 million by 2037.
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