Silex Systems (ASX:SLX) has achieved a Technology Readiness Level 6 milestone, which increases the odds that Global Laser Enrichment, the company commercializing SLX's laser technology, will secure $900 million US Department of Energy funding, according to a Wednesday Euroz Hartleys report.

Euroz Hartleys said that the milestone significantly reduces GLE's risk, and hence, the strong rise in the share price, more than double after early signs of success were shared by GLE in mid-September, is viewed as justified.

The research firm noted that GLE will now focus on progressing to the Technology Readiness Level 7 and Manufacturing Readiness Level 7 milestones before aiming to make a final investment decision in calendar year 2027.

Euroz Hartleys maintained its speculative buy rating on Silex Systems and raised its price target to AU$10.50 from AU$7.30.