UPDATE: Stifel Nicolaus Raises PT to $34.50 on Quanta Services on Raised Guidance
Stifel Nicolaus reiterated its Buy rating on Quanta Services (NYSE: PWR) and raised its price target from $32.50 to $34.50.
Stifel Nicolaus noted, "PWR raised guidance to reflect the strong growth trends across its three primary segments. PWR is guiding to 4Q12 revenue of $1.55-$1.65 billion and EPS of $0.37 to $0.39 in EPS ($0.35-$0.37 excluding a $0.02 tax benefit). … We believe that Quanta is the best-positioned name within our coverage to benefit from forecast strength in the electric transmission and energy pipeline markets in 2013."
Quanta Services closed at $25.93 on Wednesday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.