Target Hospitality Jumps 13% on $750 Million Contract as 2026 Revenue Outlook Rises
Updated
Updated · MarketWatch · May 11
Target Hospitality Jumps 13% on $750 Million Contract as 2026 Revenue Outlook Rises
3 articles · Updated · MarketWatch · May 11
Target Hospitality shares rose 13% to $17.39 and touched a three-year high of $17.74 after the company lifted its 2026 revenue forecast and disclosed a major new award.
The company now expects 2026 revenue of $370 million to $380 million, up from $360 million to $370 million and above the $365.6 million analyst consensus.
A 48-month contract awarded in May is expected to generate more than $750 million in revenue by providing accommodations and hospitality services for over 3,000 people supporting AI infrastructure development.
First-quarter results were mixed: revenue rose to $72.8 million from $69.9 million a year earlier but missed estimates, while net loss widened to $12.9 million, or 13 cents a share.
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