Marc Bianchi, an analyst from TD Cowen, maintained the Buy rating on MasTec. The associated price target is $320.00.
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Marc Bianchi has given his Buy rating due to a combination of factors, including strong backlog expansion, a modest earnings beat, and guidance he views as deliberately cautious. MasTec’s 2026 EBITDA outlook is set above consensus, supported by robust project visibility and improving margin trajectories across key segments, even though free cash flow was temporarily softer due to growth-related timing.
He also highlights particularly strong momentum in Communications, Power Delivery, and CE&I, where data center and renewable projects are driving sizable, higher-return backlogs and conservative revenue guidance that could be exceeded. In Pipeline, management is guiding to solid revenue and mid-teens margins for 2026 that may prove conservative given early-year strength, leading him to see excellent fundamentals that justify a Buy despite a more demanding valuation.
In another report released today, KeyBanc also maintained a Buy rating on the stock with a $335.00 price target.