Quanta Services upgraded to Outperform from Market Perform at BMO Capital

BMO Capital upgraded Quanta Services (PWR) to Outperform from Market Perform with a price target of $316, down from $338. The recent share pullback on power and related infrastructure offers an attractive opportunity to buy the stock, the analyst tells investors in a research note. The firm says Quanta now trades in line with the broader market despite the company’s “robust and diversified” backlog that spans across a “decade-long investment cycle” in the electric, energy and telecommunication sectors. The company’s recent 2025 guidance solidified BMO’s view that it has “multiple avenues for growth and attractive risk/reward from here.”