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Fly News Breaks for November 11, 2019
ORA
Nov 11, 2019 | 08:30 EDT
Roth Capital analyst Gerry Sweeney downgraded Ormat Technologies to Neutral from Buy with a $78 price target, citing valuation. In a research note to investors, Sweeney says there are several projects coming on line next year including the restart of the Puna facility which should lift EBITDA to $422M from an estimated $385M in 2019, but says that even with this increase, Ormat is bumping up against the upper band of his valuation limit.
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