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

SOLV Energy (NASDAQ:MWH) had its target price hoisted by equities research analysts at Canadian Imperial Bank of Commerce from $37.00 to $38.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperformer” rating on the stock. Canadian Imperial Bank of Commerce’s price objective would indicate a potential upside of 9.30% from the company’s current price.

A number of other equities analysts have also recently commented on MWH. TD Cowen started coverage on shares of SOLV Energy in a research report on Monday, March 9th. They issued a “buy” rating and a $32.00 target price on the stock. Evercore started coverage on shares of SOLV Energy in a research report on Monday, March 9th. They issued an “outperform” rating and a $34.00 target price on the stock. Jefferies Financial Group started coverage on shares of SOLV Energy in a research report on Monday, March 9th. They issued a “buy” rating and a $32.00 target price on the stock. KeyCorp lifted their target price on shares of SOLV Energy from $34.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Finally, JPMorgan Chase & Co. started coverage on shares of SOLV Energy in a research report on Monday, March 9th. They issued an “overweight” rating and a $34.00 target price on the stock. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.55.

SOLV Energy Stock Performance

Shares of SOLV Energy stock traded up $0.30 on Monday, hitting $34.77. 136,341 shares of the company traded hands, compared to its average volume of 911,378. SOLV Energy has a 12-month low of $26.42 and a 12-month high of $35.22.

SOLV Energy (NASDAQ:MWH) last posted its quarterly earnings data on Thursday, March 19th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.15. The business’s revenue 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.