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Investing.com - KeyBanc raised its price target on MasTec (NYSE:MTZ) to $205.00 from $196.00 on Monday, while maintaining an Overweight rating on the infrastructure construction company. The new target sits within the analyst range of $128 to $219, with MasTec shares currently trading at a P/E ratio of 52.8x.
The price target increase follows MasTec’s strong second-quarter performance, which prompted the company to raise its 2025 guidance by more than the amount of the earnings beat. According to InvestingPro, the company has demonstrated impressive momentum with a 70.3% return over the past year and 27.9% YTD.
Despite the positive results, MasTec shares underperformed the broader market, falling 8% compared to the S&P 500’s 2% decline, which KeyBanc attributed to concerns over the 0.9x book-to-bill ratio and low double-digit margins in the company’s Pipeline segment.
KeyBanc characterized these concerns as timing issues, noting that MasTec increased its headcount by over 10% in the second quarter to support future growth, and that the Pipeline segment is still comparing against previous Mountain Valley Pipeline work.
The firm highlighted that excluding the Pipeline segment, MasTec’s EBITDA grew 42%, and expressed optimism about growth prospects in key end markets, particularly in Communications and Pipelines.
In other recent news, MasTec Inc . reported impressive financial results for the second quarter of 2025, exceeding analyst expectations. The company achieved an earnings per share of $1.49, surpassing the forecasted $1.40. Revenue also outperformed projections, reaching $3.54 billion compared to the anticipated $3.4 billion. These results highlight MasTec’s strong performance during the quarter. Despite these positive earnings and revenue figures, the company’s stock experienced a decline, which may reflect broader market concerns or specific challenges faced by the company. Such fluctuations are not unusual and can be influenced by various external factors. While MasTec’s financial results were robust, the market’s reaction underscores the complex dynamics at play. Investors and analysts will likely continue to monitor the company’s performance closely.
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