Barclays Believes MasTec (MTZ) Still Has Room to Grow


In a report issued on July 12, Adam Seiden from Barclays maintained a Buy rating on MasTec (MTZ), with a price target of $60. The company’s shares closed on Friday at $51.30, close to its 52-week high of $53.80.

According to TipRanks.com, Seiden is a 1-star analyst with an average return of -2.2% and a 51.3% success rate. Seiden covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Terex Corp, and Deere.

MasTec has an analyst consensus of Strong Buy, with a price target consensus of $61.57.

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Based on MasTec’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $43.11 million. In comparison, last year the company had a net profit of $80.49 million.

Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock.

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MasTec, Inc. engages in the provision of infrastructure construction services. It operates through the following segments: Communications; Oil and Gas; Electrical Transmissions; Power Generation and Industrial; and Other.

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