The stock was up $8.78 (+2.26%) yesterday and is $2.14 (+0.54%) higher in late pre-market, $400.00 last.
From Investing.com, July 17:
BMO Capital downgrades Quanta Services stock on valuation concerns
BMO Capital downgraded Quanta Services (NYSE:PWR) from Outperform to Market Perform on Thursday, while raising its price target to $400.00 from $352.00. The stock, which has delivered a remarkable 59% return over the past year, is currently trading near its 52-week high of $390.10.
The research firm emphasized that the downgrade was "strictly a valuation call" rather than a fundamental concern about the company’s business prospects. This aligns with InvestingPro data showing Quanta trading at a steep P/E ratio of 61.4, suggesting the stock may be overvalued despite its strong fundamentals and GREAT financial health score.
BMO Capital acknowledged that Quanta’s "scale, breadth, and high voltage expertise" differentiates it from typical engineering and construction peers and justifies a substantial premium valuation....
....MUCH MORE
Meanwhile The Fly via TipRanks relays:
Quanta Services price target raised to $440 from $370 at BofA
