Quanta Services initiated with an Outperform at Wolfe Research

Wolfe Research initiated coverage of Quanta Services with an Outperform rating and $313 price target. Quanta is a “best in-class” infrastructure solutions provider to the electric and gas utilities, renewable energy, and energy sectors, levered to current megatrends that includes data centers, electrification, energy transition, and climate risk, the analyst tells investors. Quanta “hits on all key thematics across our coverage,” the analyst added.