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.
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