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Fly News Breaks for August 16, 2019
Aug 16, 2019 | 07:17 EDT
Stephens analyst Blake Hirschman named Quanta Services (PWR) as his a Best Idea, replacing Watsco (WSO), stating that he sees it as more likely that any "new" Peru-related developments "bias towards incrementally positive than negative" and that he believes the post-earnings Peru-related weakness in the stock has been overdone. Hirschman contends that added uncertainty from the Peru project and free cash flow generation were the primary culprits behind the recent weakness, but he believes concerns around both easing in the second half. He reiterated an Overweight rating and $42 price target on Quanta shares.
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