MasTec price target raised to $163 from $140 at KeyBanc

KeyBanc analyst Sangita Jain raised the firm’s price target on MasTec (MTZ) to $163 from $140 and keeps an Overweight rating on the shares. The firm acknowledges strong execution across segments and positive momentum in two of MasTec’s most profitable segments: Communications and Pipeline Infrastructure. The company reported strong Q1, raised guidance beyond the beat, and most relevant reported a 1.6-turns BTB led by pipeline bookings, KeyBanc notes. The firm believes that the strong start to the year in bookings helps to derisk the full year outlook.