B. Riley lowered the firm’s price target on MasTec to $83 from $129 and keeps a Buy rating on the shares. MasTec reported Q3 EPS, EBITDA, and revenue below guidance and guidance for 2023 was lowered due to numerous project delays, deferrals, and lower utilization, the analyst tells investors in a research note. The firm remains a buyer of shares on the weakness despite the bar reset lower.
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