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UBS warmly recommends Ormat Tech By Yuval Maoz UBS analyst Roni Biron yesterday upgraded his recommendation for geothermal power company Ormat Technologies from Neutral to Buy. However, the Swiss bank's analyst left its 12-month target price of NIS 33 per share, which is 29% above the price at the open of trade yesterday. Biron lists three main challenges to the developer and supplier of geothermic energy and stations, which shed nearly 59% of its market value in 2008: the low price of oil, currently below $50 per barrel, the difficulty in finding financing for new projects, and underperforming benchmark returns on investments. Advertisement UBS says that oil prices are set to rise by 2012. In addition, it believes that incoming U.S. administration lead by Barak Obama will favor alternative energy. As to capital, UBS says Ormat is in talks to borrow as much as $300 million for three new projects. Delay in starting new projects can't be ruled out, but Ormat is well supported by present works and by its own equity. "We believe that Ormat is moving in the right direction," Biron wrote. "Geothermic energy in the U.S. is set to more than double by 2025." Ormat Technologies, run by the Bronicki family, is a subsidiary of Tel Aviv-listed Ormat Industries. Bookmark to del.icio.us   Humanitarian initiative There is a way for Israel to prove it is committed to universal moral values. Top Targets An Islamist site is compiling a list of U.K. Jews to target over Gaza op.

Read & React Bradley Burston / A Jew's prayer for the children of Gaza Responses: 52 IDF: Shelled UN school in Gaza used as hideout by Hamas Responses: 100 ANALYSIS / Using aggressive tactics in Gaza to save soldiers' lives Responses: 23 Venezuela's Chavez: Gaza operation is a Palestinian 'holocaust' Responses: 26 Amira Hass: Lucky my parents aren't alive to see Israel bomb Gaza Responses: 40 More Headlines 23:29 Israel bombs south Gaza tunnels, tells local residents to flee 01:09 Barak: If cease-fire deal doesn't meet Israel's demands, Gaza operation will continue 21:55 Clashes resume in Gaza City after 3-hour humanitarian truce 22:58 Rice: Gaza truce needed, but must not allow return to 'status quo ante' 18:30 Defense sources: Even if Hamas agrees to truce, its armed wing may resist 23:37 25 Gaza rockets strike Negev over course of Wednesday 21:27 Obama vows to 'engage immediately' on Mideast once inaugurated 12:57 A Jew's prayer for the children of Gaza 18:20 Get up to the minute coverage of the warfare in Gaza directly to your email 11:35 ANALYSIS / Israel must double, triple, quadruple its medical aid to Gaza 14:34 Report: Islamist site compiling list of U.K. Jews to target over Gaza op 20:40 In battle for public opinion, IDF Web site puts female face forward 16:14 Israel defers vote on expanding Gaza ground op amid growing truce bids 22:00 Joe the Plumber named conservative Web site's war correspondent in Israel 14:53 Nasrallah: Hezbollah will make Lebanon war look like 'a walk in the park' 01:51 German court rules Nazi hit man unfit to stand trial 01:24 IDF reserve forces receive fictitious calls for duty in Gaza 21:35 WATCH: Former Israeli Ambassador to the U.S. Zalman Shoval on Gaza conflict 21:33 U.S. rabbi raises $100,000 to buy care packages for IDF troops in Gaza 14:19 Amira Hass / 86 hours after Gaza home shelled, family still lacks medical aid Previous Editions Select Day 07 jan 06 jan 05 jan 04 jan 02 jan 01 jan 31 dec 30 dec 29 dec 28 dec 26 dec 25 dec

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