JPMorgan Boosts Quanta Services Price Target Amid Strong Market Demand.

JPMorgan has increased the price target for Quanta Services (PWR) from $345 to $392, maintaining a Neutral rating. The firm highlighted robust end market demand in the engineering, procurement, and construction management sector, particularly within clean energy. Quanta Services reported a record backlog of $35.3 billion and achieved double-digit growth in revenue, adjusted EBITDA, and adjusted earnings per share for Q1 2025. The average brokerage recommendation is 2.1, indicating "Outperform" status.

JPMorgan has increased its price target for Quanta Services (PWR) from $345 to $392, maintaining a Neutral rating. The firm highlighted robust end market demand in the engineering, procurement, and construction management sector, particularly within clean energy. Quanta Services reported a record backlog of $35.3 billion and achieved double-digit growth in revenue, adjusted EBITDA, and adjusted earnings per share for Q1 2025. The average brokerage recommendation is 2.1, indicating "Outperform" status.

JPMorgan's revised target reflects the company's strong performance in the first quarter. Quanta Services reported $6.2 billion in revenue, $504 million in adjusted EBITDA, and a record $35.3 billion backlog as of March 2025. The company's ability to convert demand into cash flow is evident in its $118 million in free cash flow for the quarter. Additionally, Quanta Services has benefited from favorable industry trends, including grid modernization and the energy transition.

The firm's Neutral rating suggests that while JPMorgan acknowledges Quanta Services' strong performance and future prospects, it remains cautious about the broader market conditions. The average brokerage recommendation of 2.1 indicates that a majority of analysts believe that Quanta Services will outperform the market.

Quanta Services' strong financial performance and favorable industry trends position the company well for future growth. As the market continues to grapple with volatility and uncertainty, Quanta Services' disciplined balance sheet and steady revenue stream from its backlog make it an attractive investment for contrarian investors.

Reference List:
[1] https://www.tipranks.com/news/the-fly/quanta-services-price-target-raised-to-392-from-345-at-jpmorgan-thefly?mod=mw_quote_news
[2] https://www.gurufocus.com/news/2984451/quanta-services-pwr-receives-price-target-boost-to-440-pwr-stock-news
[3] https://www.ainvest.com/news/quanta-services-pwr-a-resilient-infrastructure-play-in-a-downturning-market-25071010b6582d15c131829f/
[4] https://www.barchart.com/story/news/33525925/what-to-expect-from-quanta-services-q2-2025-earnings-report