Mizuho Starts Fermi (FRMI) at Outperform

Mizuho analyst Vikram Malhotra initiates coverage on Fermi (NASDAQ: FRMI) with a Outperform rating and a price target of $27.00.

The analyst comments: "We like the risk-reward of FRMI, especially the Bull Case in which we see the stock doubling. FRMI (founded by former Texas Governor Rick Perry & Toby Neugebauer) is a development company that aims to deliver Data Centers, and 11GW of power, to hyperscalers over the next decade. A key differentiator is that FRMI plans to be both a landlord and a power gen company, with ability to delivery off-grid power at scale - 1GW each in 2026 and 2027, ahead of peers. FRMI does not currently have any revenue, but its key asset is ~5700 acres of land in Amarillo, TX well-suited for natural gas and potentially nuclear power generation. We see three key debates on the stock (below). Since its IPO, the stock initially has performed well and trades above the $21 IPO price."

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

Shares of Fermi closed at $23.54 yesterday.

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