On August 12, Quanta rose 3.49% in regular trading, trading at $689.99/share, with turnover of $38.84 million. The stock rallied after Goldman Sachs raised its price target on the company from $826 to $902, maintaining a Buy rating — the highest target among Wall Street firms.

The Goldman Sachs upgrade follows a wave of bullish analyst actions. KeyBanc upgraded Quanta to Overweight from Sector Weight on August 7 with an $807 target, while Guggenheim lifted its rating from Neutral to Buy with an $800 target. The consensus mean target now stands at approximately $810.76. The analyst optimism stems from Quanta's blowout Q2 results reported on July 30, where adjusted EPS of $4.24 beat the $3.30 consensus by 28.5%, and revenue of $9.56 billion exceeded the $8.61 billion estimate by 11%. The company also raised full-year adjusted EPS guidance to $16.45-$16.95, well above the prior $13.55-$14.25 range and the Street estimate of $14.01, while lifting revenue guidance to $39.3-$39.7 billion versus prior expectations of $35.01 billion.

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