5 Best New Stocks to Buy Other Than SpaceX

4. Fermi Inc. (NASDAQ:FRMI)

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.

Last month, Evercore ISI analyst Nicholas Amicucci downgraded Fermi to In Line from Outperform with a price target of $11, down from $20. Amicucci said the downgrade is “not a rejection” of the long-term scarcity value of Project Matador or the broader power-demand thesis, but reflects a changed underwriting standard. Amicucci said Fermi 2.0 is “credible evidence” that a reset has begun, but not yet proof that it has worked.

Fermi Inc. (NASDAQ:FRMI) develops next-gen private electric grids that deliver highly redundant gigawatt-scale power to support next-gen intelligence and AI computing.