What Happened?
Shares of infrastructure solutions provider Quanta (NYSE: PWR) jumped 3.1% in the afternoon session after the company continued to ride a wave of positive sentiment from recent analyst upgrades and strong business developments. Earlier in the week, BofA Securities raised its price target on the stock to $440, while JPMorgan Chase & Co. also increased its target to $392. This optimism followed news that Quanta had secured nearly $1.7 billion in new long-distance transmission contracts. The company also highlighted its strategic alignment with growing investments in grid modernization and energy projects, which supported a strong business outlook. The positive momentum came as the stock hit an all-time high earlier in the week, with investors looking ahead to the company's second-quarter earnings report scheduled for July 31st.
After the initial pop the shares cooled down to $420.25, up 3.1% from previous close.
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What Is The Market Telling Us
Quanta’s shares are somewhat volatile and have had 12 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 3 months ago when the stock gained 11.9% on the news that the company reported strong first quarter 2025 results which significantly beat analysts' expectations across revenue, EPS, and EBITDA, and included a raise to full-year guidance that outperformed Wall Street's estimates. Overall, we think this was a solid quarter with some key metrics above expectations.
Quanta is up 33.2% since the beginning of the year, and at $420.25 per share, has set a new 52-week high. Investors who bought $1,000 worth of Quanta’s shares 5 years ago would now be looking at an investment worth $10,230.
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