Fervo Energy earns overweight rating, targeting 37% upside on geothermal tech

Piper Sandler initiated coverage of Fervo Energy (NASDAQ:FRVO) with an Overweight rating.

The firm set a price target of $51.00 per share.

This valuation suggests a potential upside of approximately 37% from the current trading price.

Analysts cite Fervo’s use of oil and gas drilling technologies for next-generation geothermal systems as a primary driver.

The company recently transitioned to the public markets.

JPMorgan, Baird, and RBC Capital also launched coverage with positive Outperform or Overweight ratings.

Jefferies initiated coverage with a Hold rating.