<div id="readability-page-1"><p>Analysts on Wall Street have kicked off coverage of X-Energy (XE), the small modular reactor (SMR) company backed by Amazon (AMZN), with largely bullish ratings. JPMorgan (JPM) believes that the company — which made its public market debut last month — has emerged as a &#34;frontrunner&#34; in the SMR race.</p><h3>Claim 55% Off TipRanks</h3>Trade AMZN with leverage <p>After closing Monday's trading 6.23% lower, X-Energy shares rose over 1% early Tuesday following the ratings. By contrast, shares of rivals Oklo (OKLO) and NuScale Power (SMR), which also fell by about the same measure the previous day, remained in the red zone during Tuesday's pre-market session.</p> <h2><strong>X-Energy's Fuel Business Is a 'Key Differentiator'</strong></h2> <p>JPMorgan analyst Jeremy Tonet commenced his coverage with an Overweight (Buy) rating and set a price target of $38, which implies about 48% upside from XE's closing price of $25.60 on Tuesday. Tonet argued that X-Energy's 11.5 gigawatt backlog through its nuclear energy deployment agreements with Amazon, specialty chemical producer Dow (DOW), and British energy services giant Centrica (CPYYY) established the company &#34;as a frontrunner&#34; in the SMR market.</p> <p>The five-star analyst also noted that X-Energy's control of the key stages of the value chain for its in-house nuclear fuel business, TRISO-X, makes for a &#34;key differentiator.&#34; He added that the business, including its licensing rights, gives X-Energy &#34;a durable competitive moat&#34; that makes it years ahead of competitors.</p> <h2><strong>X-Energy Is a 'Pure-Play Leader' in SMR</strong></h2> <p>Similarly, Guggenheim analyst Joseph Osha described X-Energy as a &#34;pure-play leader&#34; in next-generation nuclear technology with an &#34;industry-leading&#34; contracted backlog. </p> <p>Osha also praised X-Energy's licensing business model as &#34;capital efficient,&#34; generating revenues without owning or operating the facilities. The five-star analyst called XE a Buy and set a price target of $57, implying a 122% upside from yesterday's closing price.</p> <p>However, Jefferies' Julien Dumoulin-Smith prefers to be cautious and slapped a Hold rating on XE stock. Dumoulin-Smith set a price target of $28, which suggests about 9% upside from current trading levels. The five-star analyst noted that XE jumped 10% following its initial public offering and believes that the stock's risk and reward potential are now roughly even.</p> <h2><strong>Which Nuclear Stock Is the Best Buy?</strong></h2> <p>TipRanks' Stock Comparison tool shows Oklo (OKLO) only slightly beats NuScale Power to offer the biggest upside of roughly 54%. This is based on an average price target of $90.</p></div>

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<p>Analysts have initiated coverage of Amazon-backed X-Energy (XE) with positive ratings, calling it a 'frontrunner' in the small modular reactor market. JPMorgan set a price target of $38, indicating a 48% upside, while Guggenheim's target is $57, suggesting a 122% upside. X-Energy's strong backlog and control over its nuclear fuel business are seen as key advantages. In contrast, Jefferies issued a Hold rating with a target of $28, indicating cautious optimism. Rivals Oklo and NuScale Power are also in the mix, with Oklo showing slightly better upside potential.</p>

- Analysts on Wall Street have initiated coverage of X-Energy, a small modular reactor company backed by Amazon, with mostly positive ratings.  
- JPMorgan has rated X-Energy as Overweight with a $38 price target, highlighting its significant nuclear energy backlog as a competitive advantage, while Guggenheim also favors its licensing model and sets a target of $57.  
- In contrast, Jefferies has adopted a more cautious stance, issuing a Hold rating with a price target of $28, suggesting limited upside potential.

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Analysts Hail Amazon-Backed X-Energy as 'Frontrunner' in Race with Oklo, NuScale Power