Piper Sandler upgraded Ormat Technologies (ORA) to Overweight from Neutral with a price target of $102, up from $90. The firm sees “multiple tailwinds” for the company, including an improved regulatory environment, the growing need for renewable baseload energy, and “insatiable demand” for artificial intelligence data center power generation. These drives “have created a meaningful valuation re-rating story” for Ormat, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ORA:
- Ormat Technologies management to meet with Roth MKM
- Ormat Technologies commences commercial operation of Lower Rio energy storage
- Ormat Technologies signs commercial agreement with Sage Geosystems
- Ormat Technologies signs 25-year PPA extension with SCPPA
- Ormat Technologies price target raised to $90 from $78 at Piper Sandler