Quanta Services price target raised to $370 from $360 at Piper Sandler

Piper Sandler raised the firm’s price target on Quanta Services (PWR) to $370 from $360 and keeps an Overweight rating on the shares. The firm says that based on utility capital programs, the transmission capex growth rate could expand from 6% to 15% with upside materializing from recent grid operator recommendations. Piper’s infrastructure services coverage should broadly benefit. However, Quanta Services is the key beneficiary as the transmission services market leader, it adds.