What Happened?
Shares of infrastructure construction company MasTec (NYSE: MTZ) jumped 3.3% in the morning session after an analyst at Goldman Sachs reiterated a 'Buy' rating on the stock and increased its price target.
The price forecast was raised to $245 from $227. This action was part of a broader positive view from market analysts, with MasTec holding a "Strong Buy" consensus rating based on 16 buy ratings and one hold rating from Wall Street analysts. The positive sentiment also followed an 18% increase in the stock's value since early September. Reports noted the company was actively expanding into new markets, which presented opportunities for improved margins, particularly in the communications segment.
After the initial pop the shares cooled down to $200.60, up 1.8% from previous close.
Is now the time to buy MasTec? Access our full analysis report here.
What Is The Market Telling Us
MasTec’s shares are quite volatile and have had 18 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 20 days ago when the stock dropped 3.9% on the news that the company reported third-quarter results that included guidance that concerned investors. The company announced third-quarter revenue of $3.97 billion, a 22% increase from the prior year, and adjusted earnings of $2.48 per share, surpassing analyst expectations. Despite these strong headline numbers, investors appeared to focus on the company's outlook. MasTec's full-year guidance for adjusted EBITDA, a key measure of profitability, came in slightly below Wall Street's consensus estimate. This muted forecast seemed to overshadow the solid quarterly performance and an increase in the company's backlog, leading to a decline in the stock price as the market weighed the implications for future profitability.
MasTec is up 43.3% since the beginning of the year, but at $200.60 per share, it is still trading 9.4% below its 52-week high of $221.36 from October 2025. Investors who bought $1,000 worth of MasTec’s shares 5 years ago would now be looking at an investment worth $3,576.
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