Quanta (PWR) All Set To Win Big Contracts In 2010

CNN gave its top 10 picks for 2010. Here’s a report.

CNN picked Quanta Services, Inc. (NYSE: PWR) as one of the top 10 stocks to be watched out for in 2010.

CNN noted that Quanta Services, the largest contractor in the US electric power market, will benefit as the government is set to spend billions for upgrading the ageing power grid. Quanta’s revenue more than doubled in the past four years and JPMorgan analyst Scott Levine feels that the transmission is the best bet in the near term.

Quanta recently acquired Price Gregory, the country’s largest gas pipeline builder, which will drive profits in two to three years. The stock is trading at $18.83.