Infrastructure Construction Company MasTec Is Poised For Double Digit Margin Expansion, Analyst Says
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Shares of MasTec Inc (NYSE:MTZ) continued their upward trajectory in early trading on Tuesday, after climbing last week on the company’s raised 2024 adjusted earnings guidance.
Despite the recent rally, the stock has more runway. The Coral Gables, Florida-based company’s Power Delivery, Clean Energy & Infrastructure (CE&I), and Communications segments are “turning the corner,” according to Truist Securities.
Analyst Jamie Cook upgraded the rating for MasTec from Hold to Buy, while raising the price target from $133 to $173.
The MasTec Thesis: The company’s Power Delivery, CE&I, and Communications segments are poised for revenue growth and margin expansion, Cook said in the upgrade note.
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