Marc Bianchi, an analyst from TD Cowen, maintained the Buy rating on MasTec. The associated price target was raised to $225.00.
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Marc Bianchi has given his Buy rating due to a combination of factors that highlight MasTec’s potential for future growth despite some short-term challenges. The company experienced a slight underperformance due to permitting delays and investments in growth, which affected their fourth-quarter EBITDA guidance. However, MasTec’s management remains confident about their 2026 outlook, supported by a growing backlog that is expected to reach record levels by year-end.
In the pipeline segment, MasTec anticipates continued backlog growth, with expectations of double-digit growth in 2026 and the potential to exceed previous revenue peaks beyond that year. The communications segment has seen increased revenue guidance for 2025, driven by solid wireless growth and broadband infrastructure projects, although margins were reduced due to growth investments. Despite some guidance reductions in the power delivery segment due to project delays, MasTec has secured significant new projects, which are expected to contribute positively in the coming years. Overall, the company’s strategic investments and backlog growth position it well for long-term success, justifying the Buy rating.
In another report released today, Barclays also maintained a Buy rating on the stock with a $240.00 price target.