Deutsche Bank: Accumulate Shares of Quanta (PWR)
Noting that the company has an "attractive valuation," Deutsche Bank reiterated its Buy rating on Quanta Services (NYSE: PWR) today. Deutsche Bank maintains a $24 price target on the stock.
The Deutsche Bank client letter said that analysts "believe push-outs are going to slow (improved electricity demand), and that the industry will experience robust growth in 2011 and 2012." The bank "recommend[s] investors accumulate shares of Quanta."
Quanta Services, Inc. is a provider of specialty contracting services, offering infrastructure solutions to the electric power, natural gas, oil and telecommunications industries.
Deutsche Bank notes that "With a favorable longer-term outlook, near-term catalysts (transmission contracts highlighted below), and an attractive valuation, we believe PWR shares will appreciate in 2H10 and 2011."
Shares of Quanta are higher by 0.75% today, to $19.39.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.