Daiwa downgraded Quanta Services (PWR) to Hold from Outperform with a price target of $280, down from $355. The firm sees headwinds on the company’s renewable energy infrastructure order growth and U.S. artificial intelligence-driven power infrastructure spending, on top of a lack of positive catalysts ahead for the stock. Quanta’s 2025 guidance is “unappealing,” the analyst tells investors in a research note.
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