Babcock & Wilcox Enterprises (NYSE: BW) saw its stock price surge 5.70% in pre-market trading on Wednesday, continuing its upward momentum from the previous day. The latest jump comes on the heels of a positive analyst report, signaling growing investor confidence in the energy and environmental technologies company.

The rally appears to be primarily driven by a bullish stance from Lake Street analyst Robert Brown. In his report, Brown reiterated a Buy rating on Babcock & Wilcox, maintaining an ambitious price target of $9.00. This reaffirmation of a positive outlook from a prominent analyst has seemingly bolstered investor sentiment, contributing to the stock's pre-market gains.

Wednesday's pre-market surge follows a strong performance on Tuesday, where Babcock & Wilcox shares climbed 6.43% during regular trading hours. The continued buying pressure suggests that investors are optimistic about the company's prospects and are aligning with the analyst's bullish view. As the market digests this reaffirmed positive outlook, all eyes will be on Babcock & Wilcox to see if it can maintain its momentum and work towards achieving the analyst's price target, which implies significant upside potential from current trading levels.