DA Davidson Raises Quanta Services PT to $395, Maintains Neutral Rating

DA Davidson Raises Quanta Services PT to $395, Maintains Neutral Rating

In a recent update, DA Davidson has raised its price target for Quanta Services (NYSE:QTS) to $395.00, while maintaining a Neutral rating on the stock. This comes amidst strong performance and positive analyst sentiments for the company. According to InvestingPro data, Quanta Services has delivered an impressive 125% return over the past year and is currently trading near its 52-week high.

The company, known for its services in the energy and infrastructure sectors, has shown robust growth in key metrics. Quanta Services reported its second-quarter 2025 earnings, which significantly surpassed Wall Street expectations. The company achieved a revenue of $3.2 billion, marking a 35% increase from the previous year. Earnings per share also exceeded forecasts, highlighting the company’s strategic focus on operational efficiency and market expansion.

Several analyst firms have adjusted their price targets for Quanta Services following these results. JPMorgan raised its price target to $420, noting that Quanta Services’ adjusted EBITDA of $350 million was well above estimates. Needham increased its target to $450, citing Quanta Services as a leading growth story in its industry. BTIG also raised its target to $400, emphasizing the company’s strong retail gross profit per unit and operational performance. Additionally, JMP Securities adjusted its target to $430, acknowledging Quanta Services’ revenue and EBITDA exceeding consensus expectations by 5% and 7%, respectively.

Despite the strong performance, DA Davidson noted that while competitors showed acceleration in growth, Quanta Services’ growth rate and market share gains remain "orders of magnitude higher than others, on bigger numbers." The research firm concluded that the lack of growth acceleration likely "doesn’t matter much" given Quanta Services’ overall strong performance relative to the broader energy and infrastructure services market.

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References:
[1] https://za.investing.com/news/analyst-ratings/da-davidson-raises-quanta-services-stock-price-target-to-395-from-350-93CH-3814549