- B. Riley analyst Alex Rygiel raised Quanta Services Inc PWR price target to $107 (implying a downside of 5%) from $92 and maintained a Neutral rating on the shares.
- Rygiel increased estimates for the acquisition of Blattner and moved his valuation forward from 2021 to 2022 EBITDA estimates. However, the analyst believes Quanta's valuation is full.
- Recently, Quanta Services completed the previously the acquisition of Blattner Holding Company, a utility-scale renewable energy infrastructure solutions provider in North America, for consideration of ~$2.7 billion.
- Price Action: PWR shares are trading lower by 0.61% at $112.45 on the last check Friday.
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