Quanta Services upgraded on strong growth prospects in power generation and infrastructure modernization, alongside a $1B stock buyback plan.
Oppenheimer upgraded Quanta Services (PWR) to Outperform from Perform on May 28, 2026, setting an $800 price target. The firm cited the company’s exposure to high-growth markets, including power generation, underground delivery networks, and pipelines, as key drivers for the upgrade.
Quanta’s board authorized a new $1B stock repurchase program on May 22, 2026, replacing an existing plan set to expire June 30. Under the prior program, the company repurchased 540,788 shares for approximately $135M. Earlier in May, Stifel raised its price target on PWR to $784 from $654, maintaining a Buy rating after strong Q1 results.
Quanta provides infrastructure solutions for utilities, power generation, and energy industries, positioning it for long-term growth in critical sectors.