Oppenheimer analyst Noah Kaye raised the firm’s price target on Ormat Technologies to $85 from $83 and keeps an Outperform rating on the shares. The firm believes geothermal projects should see higher returns and timelines, and that prospects for deleveraging and higher ROIC appear “solid.” In addition, Oppenheimer noted that Storage remains a source of optionality with the company targeting 30pts segment margin inflection and more stable returns.
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