Guggenheim sees Quanta Services as fairly valued, starts at Neutral

As previously reported, Guggenheim initiated coverage of Quanta Services (PWR) with a Neutral rating and no price target At $24B in 2024 revenue, Quanta is “clearly a leader in its sector,” but the firm believes that is already reflected in the stock’s current valuation, the analyst tells investors. While adding that it is “particularly impressive” that Quanta is managing to grow as quickly as it is while still posting EBITDA and free cash flow margins that are at the high end of the range for comparable companies, the firm believes the stock is fairly valued at current levels.