Quanta Services Receives Buy Rating and $432 Price Target from Citi Analyst

Citi analyst Andrew Kaplowitz maintains a Buy rating on Quanta Services with a $432 price target, citing strong quarterly earnings. The analyst consensus is a Moderate Buy with an average price target of $375.39, a -6.92% downside from current levels.

Citi analyst Andrew Kaplowitz has maintained a Buy rating on Quanta Services (PWR) with a price target of $432, reflecting strong quarterly earnings. The analyst cited robust revenue growth and a record backlog as key drivers for the upward revision [1]. This latest target is higher than the consensus average of $375.39, indicating a -6.92% downside from current levels [2].

Quanta Services reported double-digit growth in revenue, adjusted EBITDA, and adjusted earnings per share for the first quarter of 2025. The company also achieved a record backlog of $35.3 billion, suggesting strong future business prospects [1]. Additionally, the firm received credit upgrades from S&P Global Ratings, which are expected to lower borrowing costs and expand liquidity [1].

Despite the positive outlook, there are some concerns. The Long Island Power Authority voted down Quanta Services' application to be the grid operator, which was not anticipated in their guidance. Additionally, macroeconomic uncertainty and potential risks from tariffs on solar modules pose challenges [1].

Moody's affirmed Quanta Services' Baa3 rating and revised its outlook to positive, reflecting strong credit metrics and an enhanced portfolio following strategic acquisitions [3]. UBS increased its price target for Quanta Services to $413, citing an upcoming electric grid investment cycle in Texas as a significant revenue opportunity [3].

Overall, the consensus among analysts remains positive, with Quanta Services well-positioned to benefit from growing demand for complex utility infrastructure solutions. However, some caution is expressed over valuation and growth sustainability [3].

References:
[1] https://www.investing.com/news/analyst-ratings/quanta-services-stock-price-target-raised-to-440-from-370-at-bofa-93CH-4139446
[2] https://www.gurufocus.com/news/2984451/quanta-services-pwr-receives-price-target-boost-to-440-pwr-stock-news
[3] https://finance.yahoo.com/news/citi-raises-parker-hannifin-ph-183219725.html