Piper Jaffray Raises Quanta Services Outlook To $23

According to Piper Jaffray, Quanta Services PWR guidance implies improved outlook. Piper Jaffray said that it views Quanta's 2Q results and comments on an improved outlook as confirmation of the thesis that the long-term catalysts remain firmly in place despite near-term roadblocks that it has seen for the past several quarters. “Our price target moves from $22 to $23 based on the early indications of project reacceleration.” Quanta Services closed yesterday at $18.93.