Quanta Services price target raised to $252 from $237 at Stifel

Stifel raised the firm’s price target on Quanta Services to $252 from $237 and keeps a Buy rating on the shares. Q4 results were higher than expected and 2024 revenue guidance was better than expected, says the analyst, who notes that shares currently trade at a premium valuation, but believes this is supported by a solutions approach to capturing opportunities in T&D and renewables, with accelerating load growth additive to the outlook.