Wedbush Rates Oklo, Nano Nuclear Outperform
Wedbush initiated coverage of six advanced nuclear companies, with Oklo and Nano Nuclear rated Outperform and NuScale Power rated Underperform.
Updated on Nov. 3, 2026 in Nuclear
Wedbush analyst Seth Basham launched coverage of six companies in the advanced nuclear space, giving Oklo an Outperform rating with a $36 price target and Nano Nuclear an Outperform rating with an $18 price target. The firm gave NuScale Power an Underperform rating with a $5 price target.
Why it matters
Wedbush cited rising electricity demand from AI infrastructure as a potential long-term growth driver for nuclear energy, while questioning NuScale's commercial progress. The divergent ratings signal that analysts see a wide gap between companies with developing projects and those without a binding, financed reactor order.
The ratings reflect analyst price targets rather than reported financial results, with Oklo's $36 target implying 53% upside and Nano Nuclear's $18 target implying 64% upside from the last close. NuScale's $5 target implies 6% downside, and the source does not specify how long these targets are expected to hold.
The players
Wedbush Securities
Wedbush Securities is a Los Angeles-based investment bank and brokerage firm that provides equity research coverage across multiple sectors.
Seth Basham
Seth Basham is a Wedbush equity research analyst who covers the advanced nuclear and energy sectors.
NuScale Power
NuScale Power is a publicly traded company developing small modular nuclear reactors, and it holds an NRC design certification for its reactor.
U.S. Nuclear Regulatory Commission
The U.S. Nuclear Regulatory Commission is the federal agency that licenses and regulates civilian nuclear power facilities and reactor designs in the United States.
The details
Wedbush's coverage spans six companies in the advanced nuclear sector, with Outperform ratings for Oklo and Nano Nuclear and an Underperform rating for NuScale Power. NuScale holds a small modular reactor design certification from the U.S. Nuclear Regulatory Commission but has not secured a binding, financed order for its reactor modules.
Timeline
2023: The Carbon Free Power Project was canceled.
November 3, 2026: Wedbush's coverage initiation was reported, and the stocks traded lower overnight.
Big Picture
Wedbush's divergent ratings come after the 2023 cancellation of the Carbon Free Power Project, a closely watched small modular reactor effort in the United States. The analyst's focus on binding orders suggests that commercialization remains the key test for companies in the sector.
Investors weighing advanced nuclear stocks face a wide spread of analyst views, with ratings and price targets pointing in opposite directions for companies at different stages of development. Readers tracking the sector should watch whether companies like NuScale secure binding, financed reactor orders.
The takeaway
Analyst ratings in the advanced nuclear sector increasingly separate companies with financed orders from those still in development, and that distinction may shape how the sector is valued. Commercial milestones will likely matter more than price targets over the long run.
Further reading
For more on the sector, explore Nuclear coverage on Wisevoter.
