Quanta Services, Inc. (NYSE:PWR) is one of the 10 Best Pick and Shovel AI Stocks to Invest In.
On July 2, 2026, Truist raised its price target on Quanta Services, Inc. (NYSE:PWR) to $940 from $851 and kept a Buy rating
Truist adjusted estimates and targets across the machinery, infrastructure services, and multi-industry group as part of a Q2 preview. The firm sees a positive setup for Q2 earnings reports across the sector, with demand trends remaining strong and supported by secular growth tailwinds in power, data center, aerospace and defense, and infrastructure. Towards the end of May, Oppenheimer upgraded Quanta Services to Outperform from Perform with an $800 price target following a transfer of coverage.
Oppenheimer said Quanta is “positioned in markets with superior growth prospects,” citing exposure to power generation, complex facilities development, underground delivery network modernization, and pipeline. The firm said these areas are needed to support electrification demand, AI development, and other secular drivers, and sees potential margin expansion for Quanta. Pixabay/Public Domain Earlier, Quanta Services’ Board of Directors, in support of management’s request, authorized a new stock repurchase program allowing the company to buy up to $1B of its outstanding common stock from time to time.