Citi Raises MasTec Price Target to $220 Amid Sector Demand and Regulatory Stabilization

Citi has raised its price target for MasTec (MTZ) to $220, maintaining a Buy rating. The firm expects strong demand and stabilized regulatory conditions in the engineering and construction sector. Analysts forecast an average target price of $187.73, implying a 0.82% upside from the current price. The estimated GF Value for MasTec in one year is $131.42, suggesting a 29.42% downside from the current price.

Citi has adjusted its price target for MasTec (MTZ, Financial), raising it from $192 to $220, while maintaining a Buy rating for the stock. The firm anticipates that many companies in the engineering and construction sector will either meet or exceed the second quarter consensus estimates. According to Citi, there is a strong trend in demand and regulatory conditions have stabilized following the implementation of recent legislative measures. The firm has revised price targets for several companies within this sector as they approach the release of Q2 results.

Wall Street analysts forecast an average target price of $187.73 for MasTec Inc (MTZ, Financial), with a high estimate of $213.00 and a low estimate of $131.60. The average target implies an upside of 0.82% from the current price of $186.19. Based on the consensus recommendation from 18 brokerage firms, MasTec Inc's (MTZ, Financial) average brokerage recommendation is currently 1.9, indicating an "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies a Strong Buy, and 5 denotes a Sell.

GuruFocus estimates the GF Value for MasTec Inc (MTZ, Financial) in one year to be $131.42, suggesting a downside of 29.42% from the current price of $186.19. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at, calculated based on historical multiples, past business growth, and future performance estimates.

References:
[1] https://www.gurufocus.com/news/3007702/mastec-mtz-price-target-raised-by-citi-amid-positive-outlook
[2] https://www.gurufocus.com/news/3009863/mtz-stock-update-citigroup-raises-price-target-to-usd-220-mtz-stock-news