BofA says Quanta ‘separated itself from the pack,’ starts with a Buy

As previously reported, BofA initiated coverage of Quanta Services (PWR) with a Buy rating and $407 price target Quanta, as the “leading” North American utility infrastructure services company, is positioned for growth as aging infrastructure and demand growth drive reinvestment. Quanta has “separated itself from the pack, becoming the premier solutions provider with a focus on partnering with utilities,” argues the analyst, who thinks Quanta’s central role in meeting energy demand and maintaining networks is “absolute.”