BUZZ-Target Hospitality soars on $550 mln data center contract, annual outlook boost

Reuters04-01

BUZZ-<a href="https://laohu8.com/S/TH">Target Hospitality</a> soars on $550 mln data center contract, annual outlook boost

** Target Hospitality's TH.O shares up 35% before the bell to $12.53, nearly 2-1/2-yr high, after securing data center contract

** Woodlands, Texas-based firmannounces multi-year lease and services agreement to construct and provide facility and hospitality services to a top-five hyperscaler and their development of a data center campus in North Texas

** TH says construction of purpose-built community will begin immediately and to accommodate approx 4,000 individuals. First occupancy expected in Q3 this year and full completion of the campus anticipated in Q2 2027

** Contract expected to provide over $550 mln of minimum rev over its initial approx 5-year term, and includes two additional 2-year extension options

** Reflecting the contract, co now sees 2026 rev of $360-$370 mln and adj EBITDA of $70-$80 mln; Last month, co had forecasted annual rev of $320-$330 mln and adj EBITDA of $60-$70 mln

** Through Tues close, TH shares up 16% YTD and ~40% over the past 12 months

** 2 analysts rate the stock "strong buy", 2 rate "buy" and their median PT is $11, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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First occupancy expected in Q3 this year and full completion of the campus anticipated in <a href=\"https://laohu8.com/S/QTWO\">Q2</a> 2027</p><p>** Contract expected to provide over $550 mln of minimum rev over its initial approx 5-year term, and includes two additional 2-year extension options</p><p>** Reflecting the contract, co now sees 2026 rev of $360-$370 mln and adj EBITDA of $70-$80 mln; Last month, co had forecasted annual rev of $320-$330 mln and adj EBITDA of $60-$70 mln</p><p>** Through Tues close, TH shares up 16% YTD and ~40% over the past 12 months</p><p>** 2 analysts rate the stock \"strong buy\", 2 rate \"buy\" and their median PT is $11, per LSEG data</p><p>(Lance Tupper is a Reuters market analyst. 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First occupancy expected in Q3 this year and full completion of the campus anticipated in Q2 2027** Contract expected to provide over $550 mln of minimum rev over its initial approx 5-year term, and includes two additional 2-year extension options** Reflecting the contract, co now sees 2026 rev of $360-$370 mln and adj EBITDA of $70-$80 mln; Last month, co had forecasted annual rev of $320-$330 mln and adj EBITDA of $60-$70 mln** Through Tues close, TH shares up 16% YTD and ~40% over the past 12 months** 2 analysts rate the stock \"strong buy\", 2 rate \"buy\" and their median PT is $11, per LSEG data(Lance Tupper is a Reuters market analyst. 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