Quanta Services up on energy

Investor's Business Daily

Increased spending on telecom and network infrastructure by energy companies will boost Quanta Services (PWR), says Deutsche Bank, initiating coverage with a buy rating. "We remain bullish on the longer-term growth prospects of companies involved in the transmission sector as we expect a combination of significant underinvestment, growing demand and changing policy requirements" to triple N. American transmission spending over the next 10 years, said a Deutsche analyst in a report. Shares rose 3.5% to 26.92.

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