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Fly News Breaks for August 4, 2017
PWR
Aug 4, 2017 | 07:34 EDT
Johnson Rice analyst Martin Malloy upgraded Quanta Services to Buy and increased its price target to $43 from $42 saying the core business remains strong. Malloy believes the company is in advanced discussions with customer on multiple large project awards, some of which are being delayed due to the lack of FERC commission quorum. He believes Quanta could benefit from an improving regulatory environment for permitting energy infrastructure projects and has increased confidence in the new award outlook.
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