Fermi Inc: A Competitive Advantage in the AI Race, Say Analysts

Fermi Inc, a power developer, has been initiated with a "buy" recommendation and $39 target price by Panmure Liberum. The company's AI-focused Project Matador is seen as ambitious but offers a "huge moat". Fermi's REIT structure and triple-net leases give it a capital-light profile with high margins, and its location in Texas, facing a severe power supply/demand imbalance, is also seen as a positive factor.