Texas Roadhouse earnings missed by $0.05, revenue topped estimates
Investing.com - KeyBanc raised its price target on MasTec (NYSE:MTZ) to $196.00 from $171.00 on Wednesday, while maintaining an Overweight rating on the specialty contractor’s stock. The new target represents potential upside from the current price of $172.47, with the stock already trading near its 52-week high of $173.67 after delivering an impressive 61.69% return over the past year.
KeyBanc analyst Sangita Jain noted that MasTec is "still in the early stages of earning investor confidence through consistency in execution" despite the company’s strong performance since late 2023. According to InvestingPro data, the company maintains a healthy financial profile with moderate debt levels and is expected to grow revenues by 11% this year.
The firm highlighted that MTZ shares continue to trade at a discount to specialty contractor peers, offering "decent upside potential" with positive momentum particularly in the Communications and Pipeline Infrastructure segments.
KeyBanc expects MasTec management to continue signaling positive momentum in the Communications segment and potential bookings upside in Pipeline Infrastructure.
The analyst also noted that Clean Energy backlog is underpinning 2025 targets despite what the firm described as "OBBB linked noise."
In other recent news, MasTec has caught the attention of multiple analysts, leading to several notable upgrades and positive outlooks. Goldman Sachs upgraded its rating for MasTec from Neutral to Buy, raising the price target to $195, reflecting confidence in the company’s pipeline construction capabilities, which are expected to generate significant revenue in the coming years. Jefferies also raised its price target for MasTec to $193, maintaining a Buy rating, citing the company’s strong market position and potential for gains beyond current forecasts. Meanwhile, Stifel analysts increased their price target to $181, highlighting the potential for margin improvements driven by volume growth, labor market conditions, and the implementation of Enterprise Resource Planning systems. Roth/MKM initiated coverage with a Buy rating and a $210 price target, emphasizing MasTec’s strategic positioning in the infrastructure sector, particularly in electric utilities and renewables. These updates reflect a broad consensus among analysts about MasTec’s favorable market position and growth potential, especially in the pipeline and infrastructure sectors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.