Deutsche Bank Starts Quanta Services (PWR) at Buy on Energy Infrastructure Spending Wave

December 10, 2012 6:44 AM EST
Get Alerts PWR Hot Sheet
Price: $34.29 -0.52%

Rating Summary:
    11 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 29 | Down: 30 | New: 23
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Deutsche Bank initiates coverage on Quanta Services (NYSE: PWR) with a Buy. PT $31.00.

The firm comments, "We remain bullish on the longer term growth prospects of companies involved in the transmission sector as we expect a combination of significant underinvestment, growing demand and changing policy requirements to drive 3x increase in North American transmission spending over the next 10 years.
Quanta's dominant position, strong balance sheet and preferred employer status in a tight labor market should enable share gains in the transmission sector. We see additional upside from the pipeline business as key long haul projects receive regulatory approval in early 2013. Mix shift to long haul business should drive margin and share price upside, in our view."

For an analyst ratings summary and ratings history on Quanta Services click here. For more ratings news on Quanta Services click here.

Shares of Quanta Services closed at $26.02 yesterday.

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