Truist analyst Jamie Cook raised the firm’s price target on Quanta Services (PWR) to $472 from $375 and keeps a Buy rating on the shares after its “solid” Q2 earnings beat. Total sales grew 21%, of which 6% was organic, while adjusted EBITDA increased 9.9%, the analyst tells investors in a research note. Dynamic Systems acquisition is also highly synergistic to Quanta’s portfolio and expands its addressable market in key verticals including technology and advanced manufacturing, the firm added.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PWR:
- Quanta Services’ Earnings Call Highlights Robust Growth
- Quanta Services downgraded to Hold from Outperform at Daiwa
- Quanta Services price target raised to $465 from $440 at BofA
- Quanta Services price target raised to $415 from $355 at B. Riley
- Quanta Services price target raised to $400 from $354 at Northland