Jacobs Engineering (J) stock is soaring 5.06% in pre-market trading on Monday, following a bullish initiation of coverage by Goldman Sachs. The prominent investment bank has started covering Jacobs with a Buy rating, signaling strong confidence in the company's future prospects.

Goldman Sachs set a price target of $158 for Jacobs Engineering, suggesting significant upside potential from its current trading levels. The firm's analysts cited optimistic estimates for the company's organic growth as a key factor in their positive outlook. This vote of confidence from a major Wall Street player appears to be driving investor enthusiasm and contributing to the stock's sharp rise.

Jacobs Engineering, a global technology-forward solutions company, has been gaining attention for its diverse portfolio of services spanning multiple sectors including aerospace, defense, and infrastructure. The company's focus on innovation and sustainable solutions aligns well with current market trends, potentially supporting Goldman Sachs' bullish stance. As investors digest this new coverage, it will be interesting to see if Jacobs can maintain this momentum in the coming trading sessions.