Quanta Services, Inc. (PWR) - Bull of the Day

By Zacks.com,  November 15, 2012, 12:00:01 AM EDT

We have upgraded our recommendation from Neutral to Outperform on Quanta Services, Inc. ( PWR ). The company's third quarter 2012 results were encouraging, with earnings of 45 cents -- 25% ahead of the Zacks Consensus Estimate and 80% above the prior-year level.

Quanta's strengths include strong execution, increasing demand for its services and customer confidence in the company. Revenues from the electric power segment grew 32%, while the natural gas and pipeline segment continued to improve despite the lack of large-diameter pipeline projects.

Over the last five years, PWR's shares have traded in a range of 18.4x to 46.4x trailing 12-month earnings. Our target price is $32.00 or 20.4x 2013 EPS, which is well within the historical range.

QUANTA SERVICES (PWR): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Investing Ideas, Stocks

Referenced Stocks: PWR



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