MasTec price target raised to $493 from $416 at Jefferies

Jefferies raised the firm’s price target on MasTec (MTZ) to $493 from $416 and keeps a Buy rating on the shares. The early Q1 beat and raise is indicative of segment momentum, and record March backlog adds visibility to the compounding growth story, the analyst tells investors in a research note. The firm added that investors should look for insight into Pipeline trends and peak revenue, Power Delivery transmission operatitons, Continued CE&I and Comms outperformance.