Quanta Services price target raised to $305 from $295 at DA Davidson

DA Davidson raised the firm’s price target on Quanta Services (PWR) to $305 from $295 and keeps a Neutral rating on the shares after its Q1 earnings beat and guidance raise. The company’s bookings/backlog lend ongoing visibility against a current macro backdrop which is somewhat ‘cloudier’, though the firm remains at neutral as the recent sharp recovery in shares does appear to at least somewhat reflect market views of these certain defensive characteristics, the analyst tells investors in a research note.