Quanta Services price target raised to $160 from $140 at DA Davidson

DA Davidson raised the firm’s price target on Quanta Services to $160 from $140 but keeps a Neutral rating on the shares after its Q4 earnings beat. The company’s Renewable business is seeing some short-term pressures related to solar execution, but the market is clearly enthused by notable bookings and an expanding book of business, which arguably support an attractive growth outlook for Quanta Services’ 2023 performance, the analyst tells investors in a research note.