MasTec ( (MTZ) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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MasTec’s stock has experienced volatility due to mixed signals in the market. While the company reported strong earnings, substantial revenue growth, and a record 18-month backlog, negative corporate insider sentiment and a recent downgrade from Guggenheim have contributed to uncertainty. As a result, analysts have adjusted their price targets upwards, reflecting the company’s strategic investments and robust demand in pipeline and communications segments, despite short-term challenges in power delivery.
More about MasTec
YTD Price Performance: 52.83%
Average Trading Volume: 969,732
Technical Sentiment Signal: Buy
Current Market Cap: $16.88B
For further insights into MTZ stock on TipRanks’ Stock Analysis page.
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