Quanta Services (PWR) Receives a Rating Update from a Top Analyst

In a report released today, Gus Richard from Northland Securities maintained a Buy rating on Quanta Services (PWR), with a price target of $60.00. The company’s shares closed last Thursday at $45.43, close to its 52-week high of $47.63.

According to TipRanks.com, Richard is a top 100 analyst with an average return of 25.9% and a 69.5% success rate. Richard covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Himax Technologies, and Power Integrations.

Quanta Services has an analyst consensus of Strong Buy, with a price target consensus of $44.38, representing a 0.9% upside. In a report released today, Citigroup also maintained a Buy rating on the stock with a $55.00 price target.

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Based on Quanta Services’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.76 billion and net profit of $38.69 million. In comparison, last year the company earned revenue of $2.81 billion and had a net profit of $120 million.

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Quanta Services, Inc. engages in the provision of specialty contracting services, offering infrastructure solutions to the electric power, oil and gas, and communication industries. It also focuses on the design, installation, upgrade, repair, and maintenance of infrastructure within each of the industries it serves. It operates through the Electric Power Infrastructure Services, and Pipeline and Industrial Infrastructure Services segment. The Electric Power Infrastructure Services segment provides network solutions to customers in the electric power industry. The Pipeline and Industrial Infrastructure Services segment offers infrastructure solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products. The company was founded by Kevin D. Miller, Steven P. Colmar, William G. Parkhouse and John R. Colson on August 19, 1997 and is headquartered in Houston, TX.

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