Roth Capital raised the firm’s price target on Ormat Technologies (ORA) to $98 from $88 and keeps a Buy rating on the shares ahead of its Q2 results. The firm sees the company as well-positioned to benefit from favorable policy tailwinds across geothermal and storage, the analyst tells investors in a research note. Roth adds that the OBBB provides full tax credit eligibility for both technologies through 2033, while wind/solar face earlier phaseout, also noting that as credits for wind/solar phase out, it sees upward pressure on PPA pricing, which could enhance geothermal economics.
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