Stifel analyst Brian Brophy raised the firm’s price target on Quanta Services (PWR) to $388 from $374 and keeps a Buy rating on the shares. The firm believes the rally in utility equities over the past year and recent utility capital raising “bode well for the 2025 outlook” for transmission and distribution engineering and construction, which is also supported by healthier bidding, new awards, and backlog trends per its survey work.
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