Goldman Sachs Raises Quanta Services Price Target to $414 with Buy Rating

Goldman Sachs raised the price target on Quanta Services to $414 from $364 and maintained a Buy rating. The firm believes that transmission and distribution spending will continue to support the stock, despite periods of softness due to AI headlines. However, the analyst notes that there is a better understanding of the fundamental drivers of estimates and recognition that under 10% of revenue comes from data centers.