BUZZ — Bernstein lifts Quanta to 'outperform' on grid expansion

* Bernstein upgrades energy contractor Quanta Services to "outperform" from "market perform"; lifts price target to $775 from $748 * New PT implies an upside of 22% from the stock's last close * Shares are up 0.6% at $638.70 premarket * Brokerage says co is well-positioned as the grid build-out nears an inflection point, with a $170 billion transmission project pipeline, up 25% since 2025, and above-average margins * Quanta could see 50 bps of margin expansion through 2030, driven by large transmission projects, higher-value work and vertical integration- Bernstein * 25 of 32 brokerages rate the stock "buy" or higher, 7 "hold"; their median PT is $800- data compiled * As of last close, stock had risen 50.4% YTD (Reporting by Apratim Sarkar in Bengaluru) ((Apratim.Sarkar@thomsonreuters.com)