Quanta Services Inc
PWR: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$215.00 | Kwm | Bgqlzpdm |
Quanta Services Earnings: 2024 Guidance in Line; Improving Returns Boosts Fair Value Estimate
We increase our fair value estimate to $165 from $138 for no-moat Quanta Services following its fourth-quarter results. The main driver of our fair value increase is Quanta’s improving returns on invested capital, which drives a higher medium-term valuation beyond our explicit forecast. Despite the fair value increase, we continue to view shares as overvalued.