Deutsche Bank Downgrades Quanta Services (PWR) to Hold; Conservative Guidance Already Discounted
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Price: $30.20 +1.55%
Rating Summary:
8 Buy, 1 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
8 Buy, 1 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade PWR Now!
Deutsche Bank downgraded Quanta Services (NYSE: PWR) from Buy to Hold. PT cut by $1 to $22.
Deutsche analyst says, "Following PWR's strong performance over the past 3 months (+26% since it reported last Q vs 9% for the S+P 500) and our increasingly cautious outlook for transmission spending (relative to current investor expectations), we are downgrading shares to Hold. At 27x CY11 EPS, we believe shares are fully valued and adequately reflect the potential upside to 2011 guidance (which is largely anticipated following the relatively upbeat earnings call)...We are lowering our 2011 EPS estimate by $0.12 (to $0.85; at the mid-point of mgmt's guidance)...We are also lowering our 2012 revenue and EPS estimates from $4.7B and $1.15 to $4.6B and $1.10."
For more ratings news on Quanta Services click here and for the rating history of Quanta Services click here.
Shares of Quanta Services closed at $22.63 yesterday, with a 52 week range of $17.01-$24.18.
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Deutsche analyst says, "Following PWR's strong performance over the past 3 months (+26% since it reported last Q vs 9% for the S+P 500) and our increasingly cautious outlook for transmission spending (relative to current investor expectations), we are downgrading shares to Hold. At 27x CY11 EPS, we believe shares are fully valued and adequately reflect the potential upside to 2011 guidance (which is largely anticipated following the relatively upbeat earnings call)...We are lowering our 2011 EPS estimate by $0.12 (to $0.85; at the mid-point of mgmt's guidance)...We are also lowering our 2012 revenue and EPS estimates from $4.7B and $1.15 to $4.6B and $1.10."
For more ratings news on Quanta Services click here and for the rating history of Quanta Services click here.
Shares of Quanta Services closed at $22.63 yesterday, with a 52 week range of $17.01-$24.18.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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