Guggenheim raised its MasTec price target to $518 from $480. The firm reaffirmed its Buy rating, representing a 47% potential upside from current prices.
The revision follows MasTec’s finalized acquisition of Superior Group. Guggenheim expects the deal to boost revenue and EBITDA margins within the power delivery sector. The move also strengthens the company’s data center capabilities.
MasTec recently reported a 34.5% year-over-year revenue increase. These quarterly results exceeded both earnings and revenue expectations.
TD Cowen, Stifel, and Cantor Fitzgerald also reiterated Buy ratings for the company. These firms raised their price targets based on the acquisition's strategic benefits and long-term growth prospects.