Quanta Services Inc

PWR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$173.00	Bpc	Qlhttgfmj

Quanta Services Earnings: Full-Year Guidance on Track; Valuation Remains Elevated

Brett Castelli

May 3, 2024

We are maintaining our $165 per share fair value estimate for no-moat Quanta Services following its first-quarter results. We view Quanta as well-positioned to benefit from the energy transition, but find this more than reflected in its valuation. Hence, we view shares as overvalued.

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