Bond.az - UBS initiated coverage on X-Energy Inc (NASDAQ:XE) with a buy rating and a price target of $40.00. The stock currently trades at $25.60, near its 52-week low of $25.06.
The firm cited the company’s integrated reactor, fuel and services business model as a key differentiator among publicly listed small modular reactor peers. X-Energy’s award under the U.S. Department of Energy Advanced Reactor Demonstration Program was also highlighted.
UBS projects X-Energy will grow total services revenues at 37% annually from 2026 through 2040. The company reported $94 million in revenue over the last twelve months but remains unprofitable as it scales operations.
In other recent news, X-Energy priced its IPO at $23 per share, offering 44.2 million shares. The IPO was oversubscribed by about 15 times. Morgan Stanley, JPMorgan, and Guggenheim also issued positive ratings.
