** Jefferies raises price target on renewable energy company Ormat Technologies ORA.N to $86 from $78
** ORA shares up marginally in morning trade
** New PT represents a 20.9% upside to stock's last close
** Brokerage expects ORA to deliver on 2028 financial targets given strong pricing trends even without data center contracts reflected in guide just yet
** Sees recontracting as biggest driver behind long-term value given management commentary implying pricing above $100/megawatt-hour
** "IRA uncertainty is increasingly top of mind, but ORA pointed to its safe harbor program in place securing geothermal projects through 2028 and storage through 2026 at least" - Jefferies
** 4 of 10 brokerages rate the stock "buy" or higher, 6 "hold"; their median PT is $78 - data compiled by LSEG
** Including session's move, stock up 5.1% YTD
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com;))
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