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Fly News Breaks for January 3, 2017
ORA
Jan 3, 2017 | 11:15 EDT
Oppenheimer analyst Noah Kaye called Ormat Technologies' acquisition of Viridity Energy a "major strategic move" to expand the company's addressable markets and address its ambition to move into the storage market as an EPC developer and asset operator. The analyst, who added that the deal positions Ormat as a player in the "smart grid" space, has an Outperform rating on Ormat shares with a $56 price target, which he noted is under review.
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