Piper Sandler upgrades Ormat's rating to 'overweight' as geothermal demand rises

Ormat Technologies

17/09/2025 12:06

** Shares of renewable energy co Ormat Technologies ORA.N marginally up at $91.66 in premarket trading

** Piper Sandler upgrades stock rating to "overweight" from "neutral"; raises PT to $102 from $90

** Brokerage sees several long-term drivers for geothermal growth, like the need for steady clean energy and new geothermal technologies

** But didn't expect AI's rising power demand to suddenly put Ormat and the industry in the spotlight, adds brokerage

** "The company is an established geothermal player who is well-positioned to benefit from renewed industry focus, which could be set for a shale-like revolution supported by the oil and gas market" - Piper Sandler

** Stock rated "buy" on average; median PT is $98, as per data compiled by LSEG

** As of last close, ORA is up ~34.4% this year

 (Reporting by Akriti Shah in Bengaluru)

 ((akriti.shah@thomsonreuters.com))