Argus analyst John Staszak raised the firm’s price target on Quanta Services (PWR) to $540 from $470 and keeps a Buy rating on the shares after its Q3 earnings beat. The firm also expects Quanta to benefit from accelerated capital spending by utilities, the expansion of 5G services and rural broadband, the Infrastructure Investment and Jobs Act, and the Inflation Reduction Act, the analyst tells investors in a research note.
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