MasTec initiated with a Peer Perform at Wolfe Research

Wolfe Research initiated coverage of MasTec (MTZ) with a Peer Perform rating and no price target MasTec has diverse end market exposure and is positioned to benefit from a pro-fossil fuel policy agenda, but the firm needs to see sustained execution as “past disappointments have hurt investor confidence,” says the analyst, who sees a $128-$130 fair value range for the shares.