Ormat Technologies "outperform," target price raised

08/10/07 - RBC Capital Markets

NEW YORK, August 11 (newratings.com) - Analysts at RBC Capital Markets maintain their "outperform" rating on Ormat Technologies (ORA), while raising their estimates for the company. The target price has been raised from $42 to $53.

In a research note published yesterday, the analysts mention that the company’s robust 2Q07 operations are expected to restore investor confidence, following issues in 1Q07. Ormat Technologies’ growth prospects are bright, the analysts say. The company has indicated that it is not a takeover target. The operating EPS estimate for 2008 has been raised from $1.25 to $1.26.