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Investing.com - Jefferies has raised its price target on Quanta Services (NYSE:PWR) to $398.00 from $359.00 while maintaining a Hold rating on the stock. The infrastructure services provider, currently trading at $392.22 with a market capitalization of $58.46 billion, has shown remarkable momentum with a 64% return over the past year.
The price target adjustment follows Quanta’s second-quarter results, with Jefferies expressing confidence in the company’s ability to deliver growth exceeding 18% in 2025 with DSI. This aligns with the company’s current revenue growth trajectory of 18.26%. InvestingPro analysis reveals 16 additional key insights about Quanta’s growth potential and financial health.
The research firm noted that while the timing of DC partnership remains fluid, discussions appear to be progressing substantially.
Jefferies also indicated that renewable pull-forward visibility should improve with expected near-term clarity on EO (Executive Order) matters.
The firm observed that Quanta shares have pulled back from their April-July rally due to uncertainty in renewables and the absence of a DC announcement, but still considers the stock expensive at current levels.
In other recent news, Quanta Services reported its second-quarter 2025 earnings, surpassing forecasts with an adjusted earnings per share (EPS) of $2.48 compared to the expected $2.46. The company’s revenue also exceeded projections, reaching $6.8 billion against the anticipated $6.57 billion. These results were driven by strong performance in the Electric Infrastructure Solutions (EIS) segment, which contributed to an overall backlog increase of 14% year-over-year. Notably, the EIS backlog grew by 21%, although the Underground Utility and Infrastructure Solutions (UUIS) backlog saw a decline of 12%. Following these results, Stifel raised its price target for Quanta Services to $432 from $411, maintaining a Buy rating. The price target adjustment reflects optimism about the company’s prospects, particularly in the EIS segment. Despite these positive earnings and revenue results, Quanta Services’ stock experienced a decline, highlighting investor caution. These developments provide a current snapshot of Quanta Services’ financial health and market perception.
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