MasTec shares rise 5.94% after-hours after reaching 52-week high and receiving "still a buy" rating.

MasTec Inc. (NYSE: MTZ) surged 5.94% in after-hours trading, aligning with a broader market rebound driven by a recovery in technology stocks, a stabilization in Bitcoin, and improved U.S. consumer sentiment. The rally was further fueled by elevated expectations for a 90% probability of a Federal Reserve rate cut at the next meeting, spurred by a downward revision in the Producer Price Index (PPI) for August. Lower interest rates are expected to reduce borrowing costs for industrial companies like MasTec, enhancing demand for construction and engineering services. The stock’s move followed a broader afternoon session surge in which it hit a 52-week high, reflecting its classification as a "pick-and-shovel" beneficiary of macroeconomic tailwinds. Analysts noted the rise as consistent with historical volatility patterns, with the stock up 13.8% year-to-date amid ongoing sector optimism.