Goldman Sachs Reiterates Neutral Rating on Oklo (OKLO) Post Meta (META) Deal

Goldman Sachs analyst Brian Lee reiterated a Neutral rating and $106.00 price target on Oklo (NYSE: OKLO).

The analyst comments "The 1.2 GW agreement with Meta is expected to be deployed at a power campus in Pike County, Ohio, to support Meta's data centers. Importantly, the agreement includes a mechanism where Meta will prepay for power and provide capital to provide project certainty for the deployments. Additionally, OKLO is expected to use the funds to secure fuel as well as advance Phase 1 of the project. We highlight that OKLO already owns the land for the campus, which was acquired from the DOE. Next steps. In 2026, OKLO expects to start pre-construction and site characterization work. Notably, the first phase of powerhouses are expected to come online as early as 2030, with plans to reach the full 1.2 GW by 2034. Over this period, OKLO will still need to secure an NRC license to sell commercial power, and then we expect will look to secure a firm PPA agreement. We note that we are currently modeling OKLO to deploy 1.0 GW of powerhouses by 2034, with this deal now implying potential upside to our forecast, given OKLO maintains close to 17GW in its customer pipeline outside of this deal with Meta. Additionally, Meta is already advancing a range of other nuclear deals outside of OKLO, which we view as a positive read across for the broader nuclear supply chain as well as incremental signs of traction to support SMR technology. Funding. The 1.2 GW deal represents sixteen 75 MW Aurora Powerhouses. We note the initial funding of its prior deal with EQIX that provided $25mn in funding, which was for an LOI for 500 MW of reactors. We estimate that every GW of Powerhouse deployments equates to roughly ~$15-$20 per share of equity value, based on our DCF analysis, all else equal."

For an analyst ratings summary and ratings history on Oklo click here. For more ratings news on Oklo click here.

Shares of Oklo closed at $97.60 yesterday.

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