Bank of America just raised its EUR/USD forecast
Ormat Technologies Inc (NYSE:ORA). stock reached a 52-week high on the trading floor, with shares hitting 91.81 USD. The company, now valued at approximately $5.57 billion, trades at a P/E ratio of 42.32, with analyst price targets ranging from $78 to $105. According to InvestingPro analysis, the stock appears to be trading above its Fair Value. This milestone highlights the company’s strong performance, with an impressive 37.48% gain over the past six months alone. The renewable energy company has shown resilience and growth, maintaining dividend payments for 21 consecutive years - one of several key insights available on InvestingPro. As Ormat Technologies continues to expand its geothermal and energy storage operations, this 52-week high reflects the market’s positive outlook on its future prospects.
In other recent news, Ormat Technologies reported second-quarter 2025 results that surpassed consensus expectations for both revenue and earnings. Following this announcement, Oppenheimer raised its price target for Ormat Technologies to $100, maintaining an Outperform rating due to the company’s strong growth outlook. Additionally, Baird upgraded Ormat Technologies from Neutral to Outperform, with a new price target of $103, citing increased political support for geothermal energy in the United States. UBS reiterated its Buy rating on the company, setting a price target at $105, reflecting a continued positive outlook. Jefferies also raised its price target to $97, highlighting favorable Senate draft legislation for geothermal and storage technologies.
In corporate developments, Ormat Technologies completed the acquisition of the Blue Mountain geothermal power plant for $88 million. The 20-megawatt facility in Nevada operates under a power purchase agreement with NV Energy, which is set to expire in 2029. These recent developments indicate a period of strategic growth and policy support for Ormat Technologies.
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