Quanta Services price target raised to $246 from $200 at B. Riley

B. Riley raised the firm’s price target on Quanta Services to $246 from $200 and keeps a Buy rating on the shares. The firm, which is raising its 2024 EPS forecast following the company’s Q4 report, believes the stock’s valuation can be “maintained at a high level” given the high liquidity in the shares, strong end markets, strong market position and a strong balance sheet.