Quanta Services price target raised to $189 from $168 at Argus

Argus raised the firm’s price target on Quanta Services to $189 from $168 and keeps a Buy rating on the shares. The company stands to benefit from accelerated capital spending by electric and natural gas utilities and from the expansion of 5G services and rural broadband, the analyst tells investors in a research note. The firm also notes that Quanta Services is well positioned to benefit from last year’s $1.2T infrastructure spending bill, which includes funds for renewable energy and electric vehicle charging stations.