Guggenheim Forecasts Strong Price Appreciation for SOLV Energy (NASDAQ:MWH) Stock

SOLV Energy (NASDAQ:MWH) had its price target hoisted by analysts at Guggenheim from $37.00 to $50.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price objective would indicate a potential upside of 30.07% from the company’s previous close.

MWH has been the subject of a number of other research reports. Jefferies Financial Group started coverage on SOLV Energy in a research report on Monday, March 9th. They set a “buy” rating and a $32.00 price objective for the company. Robert W. Baird upped their price objective on SOLV Energy from $36.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Zacks Research upgraded SOLV Energy to a “hold” rating in a research report on Tuesday, March 10th. TD Cowen started coverage on SOLV Energy in a research report on Monday, March 9th. They set a “buy” rating and a $32.00 price objective for the company. Finally, KeyCorp upped their price objective on SOLV Energy from $36.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.00.

SOLV Energy Price Performance

SOLV Energy stock opened at $38.44 on Tuesday. SOLV Energy has a one year low of $26.42 and a one year high of $48.40. The firm’s fifty day moving average price is $34.91.

SOLV Energy (NASDAQ:MWH) last posted its quarterly earnings data on Thursday, March 19th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.15. The firm’s quarterly revenue was up 80.0% compared to the same quarter last year.

About SOLV Energy

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.