Zacks Equity Research named Quanta Services (PWR) its Bull of the Day. The company currently maintains a record backlog of $48.5 billion.
Quanta operates as a picks and shovels provider for the AI revolution. The firm provides the infrastructure and grid modernization required to support AI data centers.
A single AI data center can consume as much electricity as 100,000 homes. This massive energy requirement creates a strong secular tailwind for Quanta’s services.
The company reported a first-quarter earnings beat of more than 31%. Zacks subsequently assigned the stock a Rank #1 (Strong Buy) rating.