MasTec (MTZ) PT Raised to $440 at Clear Street

Clear Street analyst Tim Moore raised the price target on MasTec (NYSE: MTZ) to $440.00 (from $390.00) while maintaining a Buy rating.

The analyst commented, "MasTec (MTZ) reported strong March quarter results with 34% revenue growth and 73% adjusted EBITDA growth. The EBITDA beat was driven by Pipeline and broad sales growth across all four segments. MTZ increased its 2026 guidance, and we are impressed by 28% backlog growth year-over-year and 7% sequentially for 1.36x book/bill. We estimate datacenters are worth $1.5 billion in backlog. MTZ benefits from growth across all four of its segments and expects most of its end markets to reach record high revenue over the coming years. While the stock has nearly doubled since our Top Pick during Clear Street’s Anniversary series last October, we admit there could be additional upside beyond our $440 price target, if MTZ makes accretive acquisitions, and if our valuation basis rolls over to 2028, rather than our 2027 basis."

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