BUZZ - Bernstein upgrades Quanta to "Outperform" rating due to grid expansion

September 24 - ** Bernstein upgraded energy contractor Quanta Services (PWR.N) from “market perform” to “outperform”; the target price was raised from $748 to $775

** The new target price suggests a 22% upside from the previous trading day’s closing price

** The pre-market share price rose 0.6% to $638.70

** The brokerage said that as grid construction approaches an inflection point, the company is well-positioned: its transmission project backlog reached $170 billion, a 25% increase since 2025, and the margin is above the industry average

** Bernstein said Quanta’s margin could expand by 50 basis points by 2030, driven by large transmission projects, high-value business, and vertical integration

** Of 32 brokerages, 25 have a “buy” or higher rating on the stock and 7 have a “hold” rating; the median target price is $800 — LSEG data

** As of the previous trading day’s close, the stock has gained 50.4% year-to-date

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