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Quanta Services Inc. stock has reached an all-time high, closing at 425.82 USD. According to InvestingPro data, the company’s market capitalization now stands at $62.7 billion, with technical indicators suggesting overbought conditions. This milestone highlights the company’s robust performance, with the stock delivering even more impressive gains of 59.12% over the past six months and showing strong revenue growth of 18.26% in the latest reporting period. The surge reflects investor confidence in Quanta Services’ strategic initiatives and market position, as the company continues to capitalize on opportunities in the infrastructure services sector. This achievement underscores the firm’s growth trajectory and its ability to deliver value to shareholders amidst a dynamic economic landscape. Based on InvestingPro’s Fair Value analysis, the stock appears overvalued at current levels. Discover 12 additional exclusive ProTips and comprehensive analysis in the Pro Research Report.
In other recent news, Quanta Services has been the focus of several analyst evaluations. Jefferies upgraded Quanta Services to a Buy rating, citing potential growth in sectors such as data centers, renewables, and pipelines, and increased its price target to $469. Mizuho initiated coverage with a Neutral rating and a price target of $360, acknowledging Quanta’s strong management and consistent performance in exceeding EBITDA and EPS estimates since 2019. Texas Capital Securities also began coverage with a Buy rating and a price target of $437, emphasizing Quanta’s role in the electric power market. TD Cowen raised its price target from $355 to $425, maintaining a Buy rating after Quanta’s recent earnings report, which was in line with expectations and showed a slight increase in backlog. Jefferies also previously raised its price target to $398, highlighting confidence in Quanta’s growth potential. These developments reflect a diverse range of perspectives on Quanta Services’ future performance.
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