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.
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- Ormat Technologies price target lowered to $92 from $95 at UBS
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