Solv Energy initiated with a Buy at Guggenheim

Guggenheim initiated coverage of Solv Energy (MWH) with a Buy rating and $37 price target The pure-play U.S. utility-scale solar and energy storage company is the only fully integrated lifecycle solutions provider in its market, with over 500 projects and about 20 GW constructed, the analyst tells investors. The company is levered to rising U.S. electricity demand, utility-scale solar growth, and accelerating energy storage deployments, while data center expansion and non-residential construction growth are key incremental demand drivers that should sustain “a robust project pipeline,” the analyst added.