JPMorgan downgraded Quanta Services (PWR) to Neutral from Overweight. The bank lowered its price target for the stock from $805 to $714. Analysts cited a Department of Commerce investigation into polysilicon imports as a primary risk. This probe could significantly increase costs for solar projects.
The downgrade follows Quanta's announcement of a new $1 billion stock repurchase program. Solar Power World named the company the top U.S. solar solutions provider for 2026. Quanta installed more than 6,100 megawatts of solar capacity in 2025. JPMorgan noted that regulatory uncertainty currently outweighs strong order momentum.