As previously reported, Guggenheim downgraded MasTec (MTZ) to Neutral from Buy and removed the firm’s prior $215 price target on the shares. Strong recent performance, paired with expectations for the Q3 earnings report, suggest to the firm that shares are fairly valued at the current valuation, the analyst tells investors. The summer’s “unusually quiet weather” is likely to be a slight headwind to power delivery revenue in Q3 and Q4, the analyst added.
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