UPDATE: JPMorgan Downgrades Ormat Technologies (ORA) to Neutral

(Updated - January 6, 2021 5:38 AM EST)

(updating comment)

JPMorgan analyst Mark Strouse downgraded Ormat Technologies (NYSE: ORA) from Overweight to Neutral with a price target of $86.00.

The analyst comments "We view ORA as one of the higher-quality stocks in our Alt Energy coverage universe, based on relative balance sheet strength, earnings power and visibility that originates in the shift toward ownership and operation of a diverse portfolio of geothermal projects. At ~16x our CY21 EBITDA estimate, a ~40% premium to the one-year mean NTM multiple, we think the stock is fairly valued. Our Dec 21 price target remains $86."

For an analyst ratings summary and ratings history on Ormat Technologies click here. For more ratings news on Ormat Technologies click here.

Shares of Ormat Technologies closed at $95.00 yesterday.

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