MasTec price target raised to $115 from $100 at Barclays

Barclays analyst Adam Seiden raised the firm’s price target on MasTec to $115 from $100 and keeps an Overweight rating on the shares. The analyst sees a "more modest year of gains ahead" after a multi-year run of outperformance for the broader machinery and construction space. He says his "conviction deepens after two weeks of strong performance to start 2023." Machinery has outperformed the S&P 500 Index by 20% over five years, Seiden tells investors in a research note.