TD Cowen analyst Marc Bianchi maintained a Buy rating on MasTec (MTZ – Research Report) today and set a price target of $85.00.
Marc Bianchi has given his Buy rating for MasTec’s stock (MTZ) due to a variety of reasons that suggest a positive outlook on the company’s financial performance. His analysis indicates an anticipated increase in the company’s EBITDA, despite acknowledging some risks associated with the necessary growth from current quarterly levels, especially within the Communications and CE&I sectors.
Additionally, Bianchi’s valuation model incorporates a lower discount rate, which has led to an upward revision of the target price from $65 to $85. This is based on a discounted cash flow (DCF) approach, using a weighted average cost of capital (WACC) of 9.25%. The combination of a modest improvement in EBITDA projections and a favorable adjustment in the cost of capital supports the analyst’s optimistic stance on MasTec’s market position and future financial health.
In another report released on January 25, Citi also maintained a Buy rating on the stock with a $74.00 price target.
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MasTec (MTZ) Company Description:
MasTec, Inc. engages in the provision of infrastructure construction services. It operates through the following segments: Communications; Oil and Gas; Electrical Transmissions; Power Generation and Industrial; and Other. The Communications segment performs engineering, construction, maintenance and customer fulfillment activities related to communications infrastructure, primarily for wireless and wireline/fiber communications, and install-to-the-home customers. The Oil and Gas segment offers services on oil and natural gas pipelines and processing facilities for the energy, and utilities industries. The Electrical Transmission segment deals with the energy and utility industries. The Power Generation and Industrial segment covers energy, utility and other end-markets through the installation and construction of conventional and renewable power facilities. The Other segment comprises of equity investees, other small business units that perform construction, and other services for a variety of international end-markets. The company was founded by Jorge Mas Canosa in 1994 and is headquartered in Coral Gables, FL.
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