Ormat Technologies rises after TD Cowen upgrades stock to 'buy'
09/01/2026 12:02
** Shares of renewable energy co Ormat Technologies ORA.N up 1% at $115.20 premarket ** TD Cowen upgrades stock to "buy" from "hold", raises PT to $130 from $115 ** Brokerage sees improved profitability in the storage segment, especially from PJM Interconnection due to recent pricing signals, and in Texas, given load growth and capacity constraints in Electric Reliability Council of Texas ** Expects growth in the product segment, driven by a record backlog and a shift in the structure of the New Zealand contract, involving TOPP2 geothermal project in Q3 2025 ** Eight of 10 brokerages rate the stock "buy" or higher, two "hold"; with a median PT of $125 ** Shares rose 63% in 2025 (Reporting by Koyena Das in Bengaluru) ((koyena.das@thomsonreuters.com))