B. Riley analyst Liam Burke downgraded Quanta Services (PWR) to Neutral from Buy with a price target of $300, down from $343, after assuming coverage of the name. Quanta’s blue chip customer base and 85% repeat business position the company to drive incremental market share gains by addressing clients’ long-term capital requirements through a breadth of collaborative solutions and provider-based services, but notes that the firm’s revised price target is at the high end of the historical five-year range, the analyst tells investors in a research note.
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