Guggenheim Initiates Coverage on SOLV Energy (NASDAQ:MWH)

Key Points

• Guggenheim initiated coverage on SOLV Energy (NASDAQ:MWH) with a Buy rating and a $37.00 price target, implying roughly a 32% upside from the prior close.
• Multiple other firms (including TD Cowen, Jefferies, KeyCorp and Roth MKM) have also started coverage with mostly Buy/Outperform ratings; MarketBeat shows a consensus rating of Buy and a consensus price target of $35.10.
• Shares traded up about 3.6% to $28.00 on the day (volume ~173,867 vs. average ~926,173) and sit within a one-year range of $26.42 to $33.00.

Guggenheim started coverage on shares of SOLV Energy (NASDAQ:MWH - Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat reports. The firm set a "buy" rating and a $37.00 price target on the stock. Guggenheim's price objective indicates a potential upside of 32.14% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen started coverage on shares of SOLV Energy in a research report on Monday. They set a "buy" rating and a $32.00 price target for the company. Jefferies Financial Group began coverage on SOLV Energy in a research note on Monday. They issued a "buy" rating and a $32.00 price target on the stock. KeyCorp started coverage on SOLV Energy in a report on Monday. They issued an "overweight" rating and a $34.00 price objective for the company. Wall Street Zen upgraded shares of SOLV Energy to a "hold" rating in a report on Sunday, February 22nd. Finally, Roth Mkm started coverage on shares of SOLV Energy in a research note on Monday. They issued a "buy" rating and a $35.00 price target for the company. Ten investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $35.10.

SOLV Energy Stock Up 3.6%

Shares of MWH stock traded up $0.96 on Monday, hitting $28.00. 173,867 shares of the company's stock traded hands, compared to its average volume of 926,173. SOLV Energy has a one year low of $26.42 and a one year high of $33.00.

Trending Headlines about SOLV Energy

Here are the key news stories impacting SOLV Energy this week:

• Positive Sentiment: TD Cowen initiated coverage with a "Buy" rating and a $32.00 price target (about an 18% upside vs. $27.04).
• Positive Sentiment: Robert W. Baird started coverage with an "Outperform" rating and a $36.00 price target (about a 33% upside). Benzinga
• Positive Sentiment: Wolfe Research initiated coverage with an "Outperform" rating and a $35.00 price target (about a 29% upside). Benzinga
• Positive Sentiment: KeyCorp began coverage with an "Overweight" rating and a $34.00 price target (about a 26% upside). Benzinga
• Positive Sentiment: Roth MKM initiated with a "Buy" rating and a $35.00 price target (about a 29% upside). Benzinga TickerReport

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.

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