In a report released today, Jeff Osborne from TD Cowen maintained a Hold rating on Ormat Techno (ORA – Research Report), with a price target of $76.00.
Jeff Osborne’s rating is based on a combination of factors including Ormat Technologies’ steady execution across its segments and the potential challenges it faces. The company is making progress in its product segment, particularly with a significant EPC contract in New Zealand and the Dominica BOT project, which are expected to support growth. However, the electricity segment faces headwinds due to curtailment issues linked to an aging transmission line, with a resolution anticipated in 2026.
Additionally, while Ormat’s storage segment has seen progress with the commissioning of its largest facility, it remains vulnerable to tariffs and global supply chain risks due to its reliance on battery imports from China. The timing of ITC cash flows, particularly the Herber-related tax equity deal, also plays a crucial role in the company’s financial outlook. These factors combined suggest a balanced view, leading to a Hold rating as the company navigates these opportunities and challenges.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ORA in relation to earlier this year.