Bernstein Upgrades Quanta Services to Outperform Amid Improved Fundamentals
Quanta Services (PWR) saw its shares rise by 1.5% on Thursday after Bernstein upgraded the stock from Market Perform to Outperform, raising its price target from $748 to $775. The upgrade was driven by a sharp decline in Quanta's valuation despite an improvement in underlying fundamentals. Bernstein highlighted that while the company’s shares have pulled back significantly, this has created what it views as an attractive entry point for investors. Analysts at Bernstein believe the current valuation does not reflect the stronger business outlook and operational improvements at Quanta Services.
Tickers: $PWR
Topics: Infrastructure Services Stock Upgrade Valuation Analysis