Wedbush Maintains Outperform Rating and $23 PT on Quanta Services

A report from Wedbush reiterates its Outperform rating and $23 price target on Quanta Services (NYSE: PWR)

The report states “We expect Quanta to post 3Q11 results either inline or ahead of consensus. We forecast 3Q11 revenue and EPS of $1.25bn and $0.25 versus the $1.21bn and $0.25 consensus, and guidance of $1.16bn-$1.3bn and $0.21-$0.27. We forecast gross margins of 15.8%, modestly above the previous quarter's 15.2%, flat with the year-ago period."

PWR closed Friday at $21.69.