MasTec initiated with a Buy at Texas Capital

Texas Capital analyst Alex Rygiel initiated coverage of MasTec (MTZ) with a Buy rating and $250 price target The firm says MasTec is the second-largest utility infrastructure contractor. The company benefits from its scale, end market diversification, and recurring maintenance-like services, the analyst tells investors in a research note. Texas Capital sees upside in the shares with MasTec’s primary end markets undergoing accelerating in activity.