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Investing.com - Stifel raised its price target on Quanta Services (NYSE:PWR) to $432.00 from $411.00 on Monday, while maintaining a Buy rating on the infrastructure solutions provider. According to InvestingPro data, the stock has delivered an impressive 64.23% return over the past year, though current analysis suggests the stock is trading above its Fair Value.
The price target increase follows Quanta’s quarterly results that exceeded expectations, driven by strong performance in the Electric Infrastructure Solutions (EIS) segment. The company’s overall backlog increased 14% year-over-year, with EIS backlog growing 21% while Underground Utility and Infrastructure Solutions (UUIS) backlog declined 12%. With revenue growth of 18.26% and a solid financial health score rated as GOOD by InvestingPro, Quanta continues to demonstrate strong operational execution.
The EIS backlog benefited from the Boardman to Hemingway Transmission Line award, a project spanning approximately 300 miles with 500 kV capacity. Construction on this project is expected to continue through late 2028, providing long-term visibility for the segment.
Quanta Services has raised its 2025 guidance, primarily reflecting recent acquisitions. Of the $80 million increase in expected 2025 adjusted EBITDA at the midpoint, approximately $75 million was attributed to acquisitions completed after the first quarter, including Dynamic Systems which expands Quanta into the mechanical space.
The acquisitions include the $1.35 billion purchase of Dynamic Systems at approximately 8.5 times 2025 EBITDA, a minority interest investment in a wooden utility pole producer, and two additional tuck-in acquisitions that strengthen the company’s market position.
In other recent news, Quanta Services Inc. reported its second-quarter 2025 earnings, surpassing analyst expectations. The company achieved an adjusted earnings per share (EPS) of $2.48, slightly above the forecast of $2.46. Additionally, Quanta Services reported revenue of $6.8 billion, exceeding the anticipated $6.57 billion. These results highlight the company’s strong performance during this period. Despite the favorable earnings and revenue figures, the company’s stock price experienced a decline, which is attributed to broader market trends rather than company-specific issues. Investors will be closely monitoring how Quanta Services navigates the current market environment. The company’s ability to exceed financial forecasts may influence future analyst ratings and investor sentiment.
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