Babcock & Wilcox (BW) Hits 7-Year High on 70% Price Target Upgrade, Strong Earnings

Babcock & Wilcox Enterprises Inc. (NYSE:BW) is one of the 10 Stocks That Made Millionaires Today.

Babcock & Wilcox soared to a new seven-year high on Tuesday, as investors digested its strong earnings performance last year, with net losses shrinking by 39 percent, while taking path from an investment firm’s 70-percent price target for its stock.

In intra-day trading, Babcock & Wilcox Enterprises Inc. (NYSE:BW) soared to its highest price of $14.93 before paring a few cents to finish the session just up by 26.92 percent at $14.90 apiece.

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In a market note, investment firm Northland raised its price target for the stock to $17 from $10 previously, while keeping an “outperform” rating.

It said that the upgrade was to better reflect what the firm sees as the value in relation to the long-term potential of building new power assets.

Babcock & Wilcox Enterprises Inc. (NYSE:BW) earlier this month said that it has officially secured the green light for the development of a $2.4 billion power generation project for Base Electron to supply power to Applied Digital Corp.’s AI factory campuses.

Under the agreement, Babcock & Wilcox Enterprises Inc. (NYSE:BW) will engineer, procure, and construct four 300-MW natural gas-fired boilers and steam turbine generator systems for Base Electron, a company backed by Applied Digital.

Meanwhile, it tapped Siemens Energy to design and supply the steam turbine generator sets.

In other news, Babcock & Wilcox Enterprises Inc. (NYSE:BW) announced a strong earnings performance last year, with net loss attributable to shareholders shrinking by 39 percent to $36.2 million from $59.9 million in 2024. Revenues inched up by 1.1 percent to $587.7 million from $581 million year-on-year.

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