Roth Capital raised the firm’s price target on Quanta Services (PWR) to $500 from $450 and keeps a Buy rating on the shares. The company delivered a healthy Q3 but mixed implied Q4 guide, with revenues up slightly more than the beat, but full-year EBITDA maintained, the analyst tells investors in a research note. With a book-to-bill of 1.4x, strength in its power business, and discipline in its pipeline/comms businesses, Roth continues to see the company as a primary beneficiary of a multi-decade infrastructure build-out, the firm added.
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