Quanta Services Shares Climb 0.45% on Mixed Analyst Outlook Amid 301st-Ranked $350M Trading Volume and 13.87% Average Upside Potential

On September 4, 2025, Quanta Services (PWR) rose 0.45% with a trading volume of $350 million, ranking 301st in market activity. Recent analyst activity highlights a mixed but generally positive outlook. Mizuho initiated coverage with a Neutral rating and a $360 price target, noting Quanta’s strong EBITDA margins and consistent earnings outperformance since 2019. Texas Capital Securities and TD Cowen upgraded their ratings, with Texas Capital setting a $437 target and TD Cowen raising its target to $425. Stifel and Jefferies also adjusted their price targets upward, reflecting confidence in Quanta’s electric infrastructure growth and backlog expansion. However, Mizuho cautioned that elevated valuation multiples relative to peers could limit further gains despite operational strengths.

Analyst sentiment remains cautiously optimistic. Over 22 firms have issued ratings in the past three months, averaging a $426.35 target (13.87% above the current price). While 13 analysts maintain Buy ratings, 11 hold ratings underscore cautious positioning. Mizuho’s analysis emphasized Quanta’s 18.3% revenue growth and 12% NTM ROIC but noted constraints from higher WACC compared to peers. Recent upgrades from Stifel, Truist, and Baird highlight strategic acquisitions and renewable energy interconnection potential, while downgrades from Daiwa and Northland reflect valuation concerns. Quanta’s EBITDA estimates for 2027 underpin most price targets, with multiples ranging from 11x to 20x.

Quanta’s financial health remains robust, with a “GOOD” rating for liquidity and leverage. The company’s Electric Infrastructure Solutions segment drove a 14% year-over-year backlog increase, attracting analyst attention. However, earnings estimate revisions have been modest, with Quanta matching industry performance in beating EPS/sales forecasts. Analysts project mid-to-high teens revenue growth through 2025, supported by transmission/distribution and underground work expansion. Despite valuation premiums, strategic market positioning and vertical integration capabilities justify the current analyst optimism, though upside potential hinges on execution against 2027 EBITDA expectations.

Backtest results indicate a 13.87% average upside potential from the current price, with price targets ranging from $360 to $492. The consensus suggests a moderate buy rating, balancing Quanta’s operational strengths against valuation constraints. Analysts’ median target implies continued confidence in long-term growth, albeit with caution on short-term multiple expansion.