Stifel Maintains Buy Rating on Fermi (FRMI)
Key takeaways
- Stifel Maintains Buy Rating on Fermi (FRMI) Jeff Lewis Mon, June 29, 2026 at 6:12 PM GMT+7 2 min read SPCX FRMI NVDA Fermi Inc.
- On June 23, 2026, Stifel lowered its price target on Fermi Inc.
- Last month, Evercore ISI analyst Nicholas Amicucci downgraded Fermi to In Line from Outperform with a price target of $11, down from $20.
Stifel Maintains Buy Rating on Fermi (FRMI) Jeff Lewis Mon, June 29, 2026 at 6:12 PM GMT+7 2 min read SPCX FRMI NVDA Fermi Inc. (NASDAQ:FRMI) is one of the 10 Best New Stocks to Buy Other Than Space X.
On June 23, 2026, Stifel lowered its price target on Fermi Inc. (NASDAQ:FRMI) to $17 from $29 and kept a Buy rating. Stifel said Fermi has apparently made progress in the background after months of post-IPO uncertainty, but the continued wait for a firm contract with an initial tenant has "clearly delayed the story and rattled our valuation." The firm updated its forecasts and said Fermi remains "a high-risk, high-reward, pre-revenue story."
On June 11, Citizens said The Information's report that OpenAI is in talks to lease a 10-gigawatt data center in Ohio through funding provided by Nvidia bodes well for Fermi. Citizens said the report improves the likelihood of a significant signed lease for Fermi as the company seeks its first lease for its developing 11 GW natural gas-powered complex. Fermi shares were up 13% to $6.35 following Citizens' note.