A report from Jacob Securities reiterates its Buy rating and lowers its price target from $34 to $24 on Ormat Technologies ORA.
The report states, “Ormat reported Q3 ending June. Revenue and EBITDA beat the street and met our estimates. Ormat raised its Product revenue guidance for 2011 from $90 million to $100 million. Electricity revenue guidance remains from $315 million to $325 million for 2011. We think EBITDA is a little higher but Ormat does not release its cash flow statement until later."
ORA closed yesterday at $18.96.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in