Quanta Services price target raised to $630 from $520 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Quanta Services (PWR) to $630 from $520 and keeps an Overweight rating on the shares. Quanta Services reinforced its position as a differentiated player in E&C, highlighting durable end-market demand, multi-year backlog visibility, and disciplined risk management, the analyst tells investors in a research note. The company is well-positioned to benefit from a multi-year North American infrastructure cycle, supported by utility modernization, growing large-load demand, and increasing power generation needs, the firm says.