Truist cuts Oklo stock price target to $51 on cost clarity concerns

Truist Securities has reduced its price target for Oklo stock (NYSE: OKLO) to $51 from $55, maintaining a Hold rating. The company's stock is currently trading at $44.86, marking a decline of over 30% over the past six months, based on InvestingPro data. Truist's analysis suggests the stock could be overvalued at current levels, citing progress in criticality achievement, acquisitions, and fuel supply commitments.

However, the firm highlights the ongoing debate on first-of-a-kind economics and the path to lower-cost repeat deployments. The reduction in the price target is largely due to peer multiple compression, with Truist remaining on the sidelines until there is greater clarity on costs and the progression from first-to-nth-of-a-kind deployments.

Analysts do not expect Oklo to become profitable this year, underscoring the company's execution challenges. Despite reporting strong revenue for the second quarter of 2026 at $1.2 million, surpassing analyst estimates, Oklo faced a wider-than-expected loss, with adjusted EPS of -$0.28 compared to the forecasted -$0.16. The company ended the quarter with a robust cash position of $3.0 billion in cash and marketable securities.

Additionally, Oklo announced an increased 2026 spending outlook to accelerate project work, capturing the attention of investors and analysts.