MasTec price target raised to $120 from $110 at DA Davidson

DA Davidson analyst Brent Thielman raised the firm’s price target on MasTec to $120 from $110 and keeps a Buy rating on the shares after its Q2 results. The company’s pushout/delays in certain project timing for Clean Energy, as well as some near-term slowing in wireless activity, were disappointing, but the firm remains positive on MasTec’s positioning over the medium to long term, the analyst tells investors in a research note, adding that its most critical markets are “still very favorable”.