Baird analyst Ben Kallo upgraded Ormat Technologies (ORA) to Outperform from Neutral with a price target of $103, up from $87. The firm cites the support of U.S. politicians for geothermal power production and development for the upgrade. Baird is more constructive on Ormat shares after geothermal gained favorable treatment in the One Big Beautiful Bill. It sees upside to the company’s long-term financial targets as purchase power agreements are renegotiated at higher prices, particularly with hyperscalers.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ORA:
- Ormat Technologies price target raised to $105 from $100 at UBS
- Ormat Technologies price target raised to $85 from $75 at JPMorgan
- Ormat Technologies price target raised to $90 from $86 at Barclays
- Ormat completes acquisition of Blue Mountain geothermal power plant
- Ormat Technologies upgraded to Overweight from Equal Weight at Barclays