Fervo Energy (NASDAQ:FRVO) Stock Rating Upgraded by Bank of America

Fervo Energy (NASDAQ:FRVO) was upgraded by research analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued on Friday,Benzinga reports. The firm presently has a $36.00 price target on the stock, down from their prior price target of $40.00. Bank of America‘s price target indicates a potential upside of 55.78% from the stock’s previous close.

Several other brokerages also recently issued reports on FRVO. Piper Sandler reissued an “overweight” rating on shares of Fervo Energy in a research report on Tuesday, June 23rd. Roth Capital assumed coverage on shares of Fervo Energy in a research note on Thursday, June 11th. They set a “buy” rating and a $45.00 target price for the company. Royal Bank Of Canada reissued an “outperform” rating and set a $46.00 price target on shares of Fervo Energy in a report on Tuesday, June 23rd. William Blair began coverage on Fervo Energy in a research report on Monday, June 8th. They issued an “outperform” rating and a $43.00 price target on the stock. Finally, Sanford C. Bernstein began coverage on Fervo Energy in a research note on Tuesday, June 23rd. They set an “outperform” rating and a $47.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $45.92.

Fervo Energy Trading Down 5.9%

FRVO opened at $23.11 on Friday. Fervo Energy has a 52 week low of $22.66 and a 52 week high of $42.65. The stock’s 50 day moving average price is $33.59.

Fervo Energy (NASDAQ:FRVO) last announced its earnings results on Monday, June 22nd. The company reported ($3.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($3.63). The firm had revenue of $0.06 million for the quarter, compared to analyst estimates of $1.20 million.