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On Friday, Bernstein analysts maintained a positive outlook on Quanta Services (NYSE: PWR), raising their price target from $347.00 to $383.00 while continuing to endorse the stock with an Outperform rating. The adjustment comes after Howmet Aerospace, a company within Quanta’s portfolio, reported first-quarter earnings that surpassed expectations and led to a significant rise in its share value. InvestingPro data shows Quanta’s stock has surged 12% in the past week, though it’s currently trading at a relatively high P/E ratio of 47.
Howmet’s strong performance in the first quarter was marked by a beat-and-raise, with shares closing approximately 7% higher on Friday, significantly outperforming the S&P 500’s gain of 0.63% for the day. Bernstein analysts have consistently projected robust growth for Quanta, expressing confidence in the company’s prospects for 2025 and 2026 since their initial coverage began in January 2024.
The aerospace segments of Howmet, in particular, demonstrated vigor, contributing to the company’s financial success. The adjusted diluted earnings per share (EPS) reported at $0.86 exceeded both the consensus estimate and Bernstein’s own forecast, which were $0.77 and $0.84, respectively.
In light of these results, Howmet has increased its guidance for the year 2025, adjusting expectations upward for key financial indicators including adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), EPS, and free cash flow (FCF). These revisions signal a positive trajectory for the company’s financial health and growth, reinforcing the analysts’ optimistic stance on Quanta Services.
In other recent news, Quanta Services Inc (NYSE:PWR). reported impressive financial results for the first quarter of 2025, exceeding analysts’ expectations. The company achieved an adjusted earnings per share (EPS) of $1.78, surpassing the forecast of $1.74, and reported revenues of $6.23 billion, which were above the anticipated $5.88 billion. These positive results have led Quanta Services to raise its full-year 2025 guidance for revenue, adjusted EBITDA, and EPS. Additionally, S&P Global Ratings upgraded Quanta Services’ long-term issuer rating to BBB from BBB-, recognizing the company’s strengthened financial position. The company continues to see strong demand in renewable energy and data center infrastructure solutions. Furthermore, Quanta Services is actively engaging with customers to address supply chain challenges and optimize costs. These developments reflect the company’s strategic focus and robust market position, as highlighted by recent investor and analyst discussions.
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