Fermi Inc. (NASDAQ:FRMI) is among the best NASDAQ stocks under $10 to buy. On December 15, Nicholas Amicucci, an analyst at Evercore ISI, reaffirmed a ‘Buy’ rating on Fermi Inc. (NASDAQ:FRMI), with an unchanged price target of $20, which reflects an upside potential of roughly 133% from the current price.
Earlier on December 5, Fermi Inc. announced an Electric Service Agreement with Southwestern Public Service Company (SPS), a subsidiary of Xcel Energy. Under the agreement, SPS will deliver up to 200 megawatts of electrical capacity to Fermi’s Project Matador Campus through its high-voltage 115-kilovolt transmission system. While SPS will start providing 86 megawatts of electrical capacity in January 2026, it plans to increase the capacity to 200 megawatts.
High-voltage power lines. Electricity distribution station. high voltage electric transmission tower. Distribution electric substation with power lines and transformers.
The power is poised to strengthen Fermi Inc.’s 11-gigawatt Project Matador Campus in Amarillo, which is already being built for hyperscale AI and computing operations. As stated by Larry Kellerman, its Chief Power Officer,
“Securing reliable and cost-effective power from Xcel Energy today and working together with them to grow our relationship over time is a key component of Fermi’s plans.”
Overall, Fermi Inc. is a consensus buy among all nine analysts covering the stock. With a price target range of $20 to $39.20, the median target of $30 implies 249.24% upside.
Fermi Inc. is a Texas-based energy development company specializing in next-generation electric grids. Founded on January 10, 2025, the company is committed to powering the AI needs of tomorrow.
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