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Northland Capital Markets analyst Jeff Grampp initiates coverage on Fervo Energy (NASDAQ:FRVO) with a Outperform rating and announces Price Target of $27.
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Fervo Energy signed a massive geothermal power deal with Google to supply 396 MW of electricity from its Cape Station project in Utah starting in 2028, with an option to expand to 1 GW by mid-2030. The agreement addresses the critical need for reliable, clean power to support AI data center expansion and validates Fervo's enhanced geothermal technology model.
U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling more than 100 points on Tuesday.The Dow traded down 0.40% to 52,971.81 while the NASDAQ dipped 0.52% to 26,232.46. The S&P 500 also
Fervo Energy signed a 396-MW PPA with Google, supporting Cape Station’s development and potential carbon-free power for a Utah data center.