KeyBanc Upgrades PWR to Overweight
KeyBanc upgrades PWR to overweight with $807 price target
PWR KeyBanc Upgrades PWR to Overweight, PT $807 Analyst comments: "Our change of stance hinges on moving toward a higher-quality name in an increasing risk-off environment for E&Cs.
We think larger project sizes have created a bigger risk of execution missteps and a lumpier bookings cadence, creating more volatility and making it reasonable to pay up for a larger, diversified E&C with a solid execution track record and a positive earnings revision story.
We think as project sizes have grown through the current reshoring/electrification/data center build cycle, execution track record has become a bigger part of the equation, and investors are taking note.
As data center sentiment ebbs and flows, we think it makes sense to own companies with strong execution track records and a bigger toolkit to deliver in multiple end markets." Analyst: Sangita Jain