Needham Starts X-Energy Inc (XE) at Hold

Needham analyst Sean Milligan initiates coverage on X-Energy Inc (NASDAQ: XE) with a Hold rating.

The analyst comments "We initiate coverage of X-energy (XE) with a Hold rating. XE combines proprietary reactor technology with TRISO-X fuel manufacturing, targeting licensing and services fees during construction and recurring fuel sales under long-term supply agreements. Its ~11.5 GWe pipeline spans Dow, Amazon-backed U.S. projects and Centrica, but none has reached a final investment decision. At $10.89 per share, our 2040E scenario framework suggests investors already assign substantial value to pipeline conversion, between our illustrative $7.60 Dow-plus-Amazon and $12.00 full-pipeline cases. Full deployment by 2040E would require rapid reactor and fuel capacity expansion. Near-term tests are Dow's expected 1Q2027 permit and 2027 FID, and TX-1's planned 1H2028 startup. We see balanced risk/reward despite ~$1.9B in liquidity."

For an analyst ratings summary and ratings history on X-Energy Inc click here. For more ratings news on X-Energy Inc click here.

Shares of X-Energy Inc closed at $10.60 yesterday.

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