MasTec price target raised to $245 from $227 at Goldman Sachs

Goldman Sachs raised the firm’s price target on MasTec (MTZ) to $245 from $227 and keeps a Buy rating on the shares. The firm remains constructive on the stock driven by the company’s strong anticipated pipeline orders for the next several years, opportunity for margin expansion in the clean energy segment, and positive tailwinds from data center exposure in the communications segment, the analyst tells investors in a research note. The firm adds that it remains focused on the growth of backlog across its segments from increased spending expectations from utility customers for transmission and distribution, utility scale solar, and pipelines.