BUZZ-Oklo rises after Wedbush initiates coverage with 'outperform'

Reuters12-19

** Shares of Sam Altman-backed nuclear startup Oklo Inc OKLO.N rise 5.6% to $19.40 premarket

** Brokerage Wedbush initiates coverage on co with "outperform" rating and a price target of $26

** PT reflects a 41.4% premium to stock's last close

** Brokerage believes OKLO is "in a solid spot to provide long-term recurring revenues while reducing many pain points within nuclear projects"

** "AI Revolution is driving significant demand for clean energy to power AI initiatives... putting OKLO (in) a great position to capitalize on this elevated demand" - Wedbush adds

** Of the four brokerages that cover the stock, two rate it "buy" or higher and two rate it "hold"; their median PT is $27 - LSEG data

** As of last close, OKLO stock has more than doubled since it went public on May 10, after a SPAC merger with AltC Acquisition Corp

(Reporting by Vallari Srivastava in Bengaluru)

((Srivastava.Vallari@thomsonreuters.com;))

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