Canadian Imperial Bank of Commerce Forecasts Strong Price Appreciation for SOLV Energy (NASDAQ:MWH) Stock

SOLV Energy (NASDAQ:MWH) had its price objective lifted by stock analysts at Canadian Imperial Bank of Commerce from $37.00 to $38.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “outperformer” rating on the stock. Canadian Imperial Bank of Commerce’s target price indicates a potential upside of 9.30% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of SOLV Energy in a report on Monday, March 9th. They issued a “buy” rating and a $32.00 target price for the company. Roth Mkm assumed coverage on shares of SOLV Energy in a report on Monday, March 9th. They issued a “buy” rating and a $35.00 target price for the company. Guggenheim assumed coverage on shares of SOLV Energy in a report on Monday, March 9th. They issued a “buy” rating and a $37.00 target price for the company. TD Cowen assumed coverage on shares of SOLV Energy in a report on Monday, March 9th. They issued a “buy” rating and a $32.00 target price for the company. Finally, Robert W. Baird assumed coverage on shares of SOLV Energy in a report on Monday, March 9th. They issued an “outperform” rating and a $36.00 target price for the company. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $35.55.

SOLV Energy Price Performance

SOLV Energy stock traded up $0.30 during trading hours on Monday, reaching $34.77. The stock had a trading volume of 136,341 shares, compared to its average volume of 911,378. SOLV Energy has a 52 week low of $26.42 and a 52 week high of $35.22.

SOLV Energy (NASDAQ:MWH) last issued its quarterly earnings results on Thursday, March 19th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.15. The business’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.