Clear Street raised the firm’s price target on MasTec (MTZ) to $390 from $330 and keeps a Buy rating on the shares. Texas is becoming a stronger end market for Transmission & Distribution new electricity projects for MasTec to accelerate 2027 revenue growth in Power Delivery, and there are several other large T&D projects nationwide reaching final approval for MTZ to possibly win, the analyst tells investors in a research note. The firm has also increased its 2027 adjusted EBITDA estimate by 7% to reflect higher incremental margins from Power Delivery segments, with more high-margin turnkey data center projects and overall SG&A scale benefits, Clear Street added.
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