** Jefferies raises PT on renewable energy co Ormat Technologies ORA.N to $97 from $84; maintains "buy" rating
** New PT represents 15.8% upside to stock's last close
** Brokerage says latest U.S. Senate draft favors geothermal energy and energy storage technologies, creating "best of both worlds" scenario for ORA
** "We think there's more room to go as we see demand for carbon-free, baseload power only strengthening as renewables like wind/solar are increasingly less favored," Jefferies says
** Adds that it sees very few Inflation Reduction Act (IRA) winners as budget bill gets closer to finalization, but ORA might be as close as it gets
** 5 of 10 brokerages rate stock "buy" or higher, 5 "hold"; median PT is $84 - data compiled by LSEG
** Up till last close, stock up 23.7% YTD
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com;))
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