JPMorgan analyst Mark Strouse upgraded Quanta Services (PWR) to Overweight from Neutral with a price target of $515, up from $457. The firm adjusted ratings in the clean energy space as part of its 2026 outlook. Within renewables, JPMorgan expects another year of outperformance for the utility-scale market, though it expects a trend towards larger, more complex projects as well as a more complex regulatory environment to lead to consolidation of upstream and downstream providers. The analyst maintains a preference for stocks with significant exposure to U.S.-based manufacturing, diversified end markets, and strong balance sheets.
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