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.
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