BofA lowered the firm’s price target on Ormat Technologies to $71 from $87 and keeps a Neutral rating on the shares. In addition to updating its long-term forecast, the firm has refined its 2024 estimates to account for the company having recently closed on its previously announced acquisition of a portfolio of operating and development assets from Enel. The firm’s lowered target reflects moderated estimates and a market-to-market on its discount rate.
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>>
See the top stocks recommended by analysts >>
Read More on ORA:
- Ormat Technologies closes acquisition of assets from EGPNA
- Ormat Completed the Acquisition of Contracted Operating Geothermal and Solar Assets From Enel Green Power North America
- Ormat Technologies price target lowered to $92 from $95 at UBS
- Ormat Secures 15-Year Energy Storage Service Agreement With San Diego Community Power for Pomona 2 Energy Storage Facility
- Ormat Technologies secures 15-yaer energy storage service agreement with SDCP