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PWR

Quanta Services

$76.19 /

-1.41 (-1.82%)

05:52
01/19/21
01/19
05:52
01/19/21
05:52

Quanta Services price target raised to $89 from $75 at Citi

Citi analyst Andrew Kaplowitz raised the firm's price target on Quanta Services to $89 from $75 and keeps a Buy rating on the shares. The analyst continues to see opportunity for further re-rating in the engineering and construction space as the "macro/political framework likely energizes" most of the sector. COVID-19-related uncertainty remains a near-term concern but Federal stimulus and the potential for a significant replacement to the FAST Act as well as rising oil prices seem to be setting the stage for strong performance in 2021, Kaplowitz tells investors in a research note.

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