B. Riley Analyst Views Quanta's Valuation 'Full,' Sees 5% Downside

October 15, 2021 2:10 PM | 1 min read | Make a Comment

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.