Roth Capital keeps a Buy rating and $125 price target on Ormat Technologies (ORA) after the company announced the signing of a 20-year power purchase agreement – PPA – with Switch. While modest in size and not financially material near term, the agreement is an important milestone for Ormat’s data center strategy and serves as a proof point of the growing demand for renewable energy in the data center sector, the analyst tells investors in a research note.
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