By Mackenzie Tatananni

Nuclear energy stocks soared Friday ahead of the prospective signing of executive orders by President Donald Trump.

The new orders are expected to kickstart the production of nuclear power in the U.S. by easing the regulatory process on approvals for new reactors and directing the Departments of Energy and Defense to identify federal lands for nuclear deployment, streamlining the current process under the Nuclear Regulatory Commission.

Shares of Centrus Energy, Lightbridge, and NuScale Power jumped 14%, 24%, and 13%, respectively. Shares of nuclear start-up Oklo also were on the rise, surging 18% to $46.93. Former Oklo Chairman Chris Wright was confirmed to lead the U.S. Department of Energy in February.

The benchmark S&P 500 was down 1.1%.

Other energy providers were climbing. Constellation Energy, the nation's largest provider of carbon-free energy, was up 1.5%. GE Vernova, a global supplier of power technology including nuclear solutions, was rising 1.3%.

Evercore ISI analysts said Friday that the orders should serve as a vote of confidence that the Energy Department will quickly deploy the $3.4 billion set aside to support the build-out of the nuclear supply chain.

The analysts dubbed Centrus, in particular, a "must-own" within the nuclear fuel industry, "given its strong utility and nuclear generator relationships, and its ability to leverage time-tested centrifugal enrichment technology." The firm initiated coverage on Centrus last week with an Outperform rating and $145 price target.

Vistra was up 1.4%. The company said last week that it was expanding its footprint in natural gas with a $1.9 billion acquisition; however, Vistra oversees an expansive portfolio of nuclear, coal, and solar assets.

As for Oklo, Wedbush analysts in a research note Friday reiterated an Outperform rating on the stock and boosted their price target to $55 from $45, representing potential 17% upside to the current price.

"While the market remains competitive and currently represents an arms race in terms of the approval process and timelines to get power to the ground, we do believe OKLO is a step ahead of the competition," the analysts wrote.

Oklo plans to deploy its first nuclear power plant at Idaho National Laboratory by the end of 2027. The company sells power directly to customers rather than the reactors themselves, "which we believe positions the company in a solid spot to provide long term recurring revenues while reducing many pain points within typical nuclear projects, " the analysts wrote.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com

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May 23, 2025 10:01 ET (14:01 GMT)

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