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Investing.com - Roth/MKM initiated coverage on MasTec (NYSE:MTZ) with a Buy rating and a $210.00 price target on Monday, representing approximately 22% upside potential from current levels. The $13.2 billion market cap company is currently trading near its 52-week high of $172.71, after delivering an impressive 60.75% return over the past year. According to InvestingPro analysis, the stock appears to be fairly valued based on its proprietary Fair Value model.
The infrastructure solutions provider, which specializes in engineering, procurement, and construction services across utility, renewable energy, communications, and pipeline sectors, was highlighted by the research firm as being "one of the best-positioned companies to support the acceleration of the electrical infrastructure buildout." With annual revenue of $12.46 billion and a GOOD financial health score from InvestingPro, MasTec maintains a moderate debt level while demonstrating solid operational performance.
Roth/MKM positioned MasTec as second only to Quanta Services (NYSE:PWR) in terms of its strategic positioning in the infrastructure space, citing MasTec’s "industry-leading exposure to electric utility/renewables" as a key advantage.
The price target of $210 represents approximately 14 times Roth/MKM’s 2026 EBITDA estimate for the company, compared to MasTec’s current trading multiple of around 12 times 2026 consensus EBITDA.
MasTec provides infrastructure solutions for electric and gas utilities, renewable energy projects, communications networks, and pipeline industries, with the firm’s electrical utility and renewables exposure being particularly emphasized in the research note.
In other recent news, MasTec has seen a flurry of activity from analysts. Goldman Sachs upgraded MasTec’s stock rating from Neutral to Buy, with a new price target of $195, citing optimism in the company’s pipeline construction capabilities. Analysts from Goldman Sachs expect MasTec to generate between $2.4 and $2.5 billion annually from its Pipeline Infrastructure segment due to new long-haul pipeline projects. Jefferies also raised its price target for MasTec shares to $193, maintaining a Buy rating, and expressed a positive outlook for the company’s performance, particularly in the gas pipeline sector. Jefferies noted MasTec’s diversified business model as a key factor in potentially exceeding future expectations. Stifel analysts increased their price target for MasTec to $181, maintaining a Buy rating, after meetings with the company’s Investor Relations team. Stifel highlighted potential margin improvements from increased volume, labor tightness, and the implementation of Enterprise Resource Planning systems. Both Jefferies and Stifel have expressed confidence in MasTec’s strategic direction and growth prospects, with Stifel identifying the company as a top idea for 2025.
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