Why Forgent Power Stock Keeps Going Up

FPS surged 11.10% after reporting fourth-quarter earnings that showed revenue climbing 94% to $462 million and bookings jumping 375% to $1.5 billion. The electrical infrastructure provider is capitalizing on surging demand from data center buildouts and AI expansion.

Wall Street responded with a wave of price-target increases. KeyBanc set a $60 target, representing 70% upside from current levels, while TD Cowen went further with a $76 target implying 118% potential gain. Both firms cited strengthening demand for electrical infrastructure tied to the data center and artificial intelligence buildout cycle.

The bookings figure—$1.5 billion—offers visibility into future revenue conversion and suggests the growth trajectory has runway. The 375% year-over-year increase in bookings dwarfs the already-strong 94% revenue growth, indicating accelerating momentum in the sales pipeline.