Quanta Services price target raised to $475 from $432 at Stifel

Stifel raised the firm’s price target on Quanta Services (PWR) to $475 from $432 and keeps a Buy rating on the shares. The firm’s main takeaways from its survey work include that Transmission and Distribution equipment and services activity notably accelerated and was above expectations in Q3 and that bidding and awards saw “notable improvement,” the analyst tells investors in a research note on the group. Given the survey results, the firm believes the setup is largely favorable for the group in their respective T&D related businesses entering Q3 reporting season.