Quanta Services initiated with an Outperform at BMO Capital

BMO Capital initiated coverage of Quanta Services (PWR) with an Outperform rating and $338 price target The firm says Quanta has emerged as an “indispensable partner” for electric utilities and renewable power developers, and eventually data centers. BMO expects utilities’ reliance on Quanta to grow as they outsource even larger construction programs while optimizing costs and resources “in the midst of a power infrastructure boom through the next decade.”