SOLV Energy (NASDAQ:MWH) Stock Price Expected to Rise, KeyCorp Analyst Says

Key Points

• KeyCorp raised its price target on SOLV Energy to $36 (from $34) and keeps an "overweight" rating, implying about a 5.98% upside from the current share price.
• Multiple firms (including UBS, Guggenheim, TD Cowen and Jefferies) recently initiated coverage with mostly buy ratings; overall there are ten Buys and one Hold, and the consensus price target is $35.30 with an average rating of "Moderate Buy."
• The company posted a strong quarter with an earnings beat — $0.30 EPS vs. $0.15 consensus — and revenue rising about 80% year‑over‑year.

SOLV Energy (NASDAQ:MWH - Get Free Report) had its price objective lifted by analysts at KeyCorp from $34.00 to $36.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. KeyCorp's price objective would indicate a potential upside of 5.98% from the stock's current price.

Several other equities research analysts also recently commented on MWH. UBS Group started coverage on SOLV Energy in a report on Monday, March 9th. They set a "buy" rating and a $42.00 target price on the stock. Guggenheim started coverage on SOLV Energy in a report on Monday, March 9th. They set a "buy" rating and a $37.00 target price on the stock. TD Cowen assumed coverage on SOLV Energy in a report on Monday, March 9th. They set a "buy" rating and a $32.00 target price on the stock. Zacks Research upgraded SOLV Energy to a "hold" rating in a report on Tuesday, March 10th. Finally, Jefferies Financial Group started coverage on SOLV Energy in a report on Monday, March 9th. They set a "buy" rating and a $32.00 price objective on the stock. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $35.30.

SOLV Energy Stock Performance

Shares of NASDAQ:MWH opened at $33.97 on Wednesday. SOLV Energy has a one year low of $26.42 and a one year high of $35.22.

SOLV Energy (NASDAQ:MWH - Get Free Report) last announced its earnings results on Thursday, March 19th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.15 by $0.15. SOLV Energy's revenue for the quarter was up 80.0% on a year-over-year basis.

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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