UBS Asserts Ormat Technologies (ORA) ‘Buy’ Stance on Geothermal Portfolio Growth

Ormat Technologies, Inc. (NYSE:ORA) is one of the best alternative energy stocks to buy right now. On August 11, UBS reiterated a ‘Buy’ rating on the stock and a $105 price target. The positive stance comes as the research firm remains bullish about the company’s growth metrics.

UBS Asserts Ormat Technologies (ORA) ‘Buy’ Stance on Geothermal Portfolio Growth

The company has been expanding its portfolio of geothermal and energy storage projects. The expansion comes as Ormat Technologies sets sights on capitalizing on the growing demand for renewable energy solutions amid the artificial intelligence revolution.

The completion of the Blue Mountain geothermal power plant acquisition for $88 million has once again underscored the focus on strengthening the renewable energy portfolio. Ormat plans to upgrade the power plant and increase its capacity by 3.5MW. The company’s strategic expansion plans also include the proposed addition of a 13MW solar facility.

Ormat Technologies, Inc. (NYSE:ORA) is a company that develops, manufactures, and provides renewable energy solutions, specializing in geothermal and recovered energy generation. They design, build, own, and operate power plants using these technologies, and also offer after-sales services. Additionally, Ormat explores and develops energy storage solutions.

While we acknowledge the potential of ORA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ORA and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.