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.
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