Willdan Group (WLDN) is likely to benefit from the "AI Revolution" as higher data center demand drives significant electricity load growth and a strong pipeline of opportunities, Wedbush said Friday.

In Q2, the provider of consulting services to utilities delivered a revenue of $95 million, versus the Street estimate of $75.6 million, as the company continues to capitalize on strong growth across industries, particularly its commercial work around electricity usage at data centers, which represented 15% of total revenue, according to the note.

Willdan also signaled securing major contracts in New York and California, which could be valued at over $100 million and are likely to be announced by year-end or early 2026, Wedbush added.

Willdan played a major role in offering hyperscalers domestic data center buildout capabilities. The company offers a new software that provides clients better connection times, lower power and land option costs, and faster need to market, alongside consulting and engineering services, Wedbush analysts wrote.

The brokerage said it reiterated its outperform rating on the stock and raised its price target to $120 per share from $85.

Shares of the company were up nearly 23% in recent trading.

Price: 109.46, Change: +20.35, Percent Change: +22.84