Quanta Services price target raised to $363 from $306 at Stifel

Stifel raised the firm’s price target on Quanta Services (PWR) to $363 from $306 and keeps a Buy rating on the shares. Q1 results topped expectations due to better-than-expected results in both segments, backlog increased 18% year-over-year and orders increased 44% year-over-year, the analyst noted. The firm believes Quanta’s scale and large developer customer base, as well as a healthy load demand backdrop, help insulate the outlook from uncertainties, noting that 2025 guidance was raised.