Quanta Services rated Strong Buy with $713 target amid $44B backlog and $1.1T US power infrastructure boost.

Quanta Services, Inc. is rated Strong Buy with a price target of $713 per share, supported by a strong engineering, procurement, and construction (EPC) market and a $44 billion backlog. The company is well-positioned to benefit from $1.1 trillion in U.S. power infrastructure investments through 2030, driven by data center growth and reindustrialization. Strategic investments in supply chains and the acquisition of Dynamic Systems enhance Quanta's capacity in high-voltage equipment and key growth markets. Despite a premium valuation multiple of 30.90x EV/aEBITDA, Quanta's durable growth, deep backlog, and pricing power justify its forward valuation.