UBS analyst Jon Windham downgraded Solv Energy (MWH) to Neutral from Buy with a price target of $50, up from $42. The firm still likes the company’s end market exposure and leverage to accelerating grid investment. However, Solv’s valuation now reflects its near-term positive earnings outlook and the supportive industry backdrop, the analyst tells investors in a research note. The risk/reward skew for the company is now more balanced, contends UBS.
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