Movement Alert|Quanta Falls 3.04% in Regular Trading, JPMorgan Downgrades Rating to Neutral

Market Focus
Jul 24

On July 24, Quanta fell 3.04% in regular trading, trading at $634.68/share, with turnover of $83.49 million.

On the news front, JPMorgan downgraded Quanta from Overweight to Neutral on July 21, slashing its price target from $805 to $714. Previously, Jefferies also reduced its target from $857 to $784. Multiple institutions simultaneously lowering expectations has placed sustained pressure on the stock. Adding to the uncertainty, the company is scheduled to release Q2 earnings on July 30 before market open, with consensus EPS estimated at $3.03. The pre-earnings downgrade has intensified wait-and-see sentiment among investors.

Within the Construction & Engineering sector, the overall sector weakened broadly. Among individual stocks, Sterling Construction down 5.51%, Comfort Systems USA down 3.84%, MasTec down 3.60%, Fluor down 1.77%, Dycom down 1.56%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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