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Investing.com - KeyBanc raised its price target on MasTec (NYSE:MTZ) to $246.00 from $236.00 on Monday, while maintaining an Overweight rating on the infrastructure construction company. The new target represents a potential 20% upside from MasTec’s current price of $204.16, for the company now valued at $15.84 billion.
The adjustment follows MasTec’s third-quarter results, which exceeded consensus estimates despite a slowdown in its Greenlink project, as the company’s Pipeline and Communications segments compensated for the shortfall. This performance has contributed to MasTec’s impressive 49.96% year-to-date and 57.05% one-year price returns.
KeyBanc noted that MasTec has increased its Pipeline segment guidance for 2025, and management announced plans for a new large transmission project, with additional details expected in the coming quarter.
The investment firm expects Greenlink permitting issues to be resolved with potentially minimal impact to 2026 revenue, aligning with MasTec’s executive leadership projection of 10% revenue growth, 20% EBITDA growth, and 25% EPS growth for 2026.
KeyBanc anticipates 2026 will bring another year of broad-based growth with margin expansion for MasTec, factors that contributed to the firm’s decision to raise its price target.
In other recent news, MasTec reported significant growth in its Q2 2025 earnings, with revenue reaching $3.54 billion, a 20% increase from the previous year. The company’s adjusted EBITDA was $275 million, indicating robust operational performance. Additionally, MasTec has revised its guidance and is making strategic investments to expand further in its core sectors. In related developments, Mizuho raised its price target for MasTec to $254 from $244, maintaining an Outperform rating. The research firm highlighted MasTec’s continued revenue and bookings growth, particularly in the pipeline business. Mizuho noted the management’s visibility to more than $3.5 billion in annual revenues from the pipeline segment by around 2027, which exceeds current estimates. These updates underscore the company’s strong financial performance and strategic direction.
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