SOLV Energy (NASDAQ:MWH) Sets New 12-Month High After Analyst Upgrade

SOLV Energy Inc. (NASDAQ:MWH)’s stock price reached a new 52-week high on Monday after Canadian Imperial Bank of Commerce raised their price target on the stock from $37.00 to $38.00. Canadian Imperial Bank of Commerce currently has an outperformer rating on the stock. SOLV Energy traded as high as $35.28 and last traded at $34.8880, with a volume of 219967 shares. The stock had previously closed at $34.47.

A number of other equities analysts have also recently commented on the company. Wolfe Research assumed coverage on SOLV Energy in a report on Monday, March 9th. They set an “outperform” rating and a $35.00 price target for the company. TD Cowen initiated coverage on shares of SOLV Energy in a research report on Monday, March 9th. They issued a “buy” rating and a $32.00 price target for the company. Roth Mkm began coverage on shares of SOLV Energy in a research note on Monday, March 9th. They set a “buy” rating and a $35.00 price objective on the stock. Jefferies Financial Group began coverage on SOLV Energy in a research note on Monday, March 9th. They issued a “buy” rating and a $32.00 price target on the stock. Finally, Evercore initiated coverage on shares of SOLV Energy in a research note on Monday, March 9th. They issued an “outperform” rating and a $34.00 price objective for the company. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, SOLV Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.55.

SOLV Energy Stock Performance

SOLV Energy (NASDAQ:MWH) last posted its earnings results on Thursday, March 19th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.15. The business’s revenue was up 80.0% compared to the same quarter last year.

SOLV Energy Company Profile

SOLV Energy (NASDAQ: MWH) is a renewable energy company that develops, constructs and operates solar and energy storage projects. The firm provides solutions aimed at reducing customers’ reliance on traditional grid power by pairing photovoltaic systems with battery storage where appropriate. SOLV’s activities are centered on delivering commercial-scale and distributed generation projects for business, institutional and public sector clients.

The company’s services encompass multiple phases of project delivery, including site assessment, system design, procurement, engineering and construction, and ongoing operations and maintenance.