Ormat falls after UBS downgrade on limited earnings upside
ORA•Ormat Technologies shares fell 3.5% after UBS cut its rating to neutral from buy and lowered its price target to $100 from $157. UBS said earnings upside through 2028 appeared limited and forecast adjusted EBITDA growth slowing to 9% in 2027 from 13% in 2026.
1. UBS cuts rating
UBS downgraded Ormat Technologies to neutral from buy, saying earnings upside through 2028 appeared limited. The brokerage expects adjusted EBITDA growth to slow to 9% in 2027 from 13% in 2026.
2. Lower price target
UBS cut its price target to $100 from $157, representing 9% upside to Wednesday’s close of $91.49. The firm said Ormat traded broadly in line with peers, with expected growth already priced in and risk-reward balanced. Shares fell 3.5% to $88.32 and were down 20% year to date, including the session’s move.
