Bernstein upgraded Quanta Services Inc. (PWR) to Outperform from Market Perform. The firm increased its price target on the shares to $775 from $748.
Analysts cite a critical shift in data center construction from power availability to skilled labor needs. Quanta scales its workforce significantly faster than the industry average. This capability positions the company to capture more contracts at higher margins as manpower demand intensifies.
The company's pipeline of large transmission projects expanded by 25% since 2025. Quanta currently maintains a consensus Moderate Buy rating. Jefferies and UBS also recently issued significant price target increases for the stock.