MasTec price target raised to $132 from $120 at B. Riley

B. Riley raised the firm’s price target on MasTec to $132 from $120 and keeps a Buy rating on the shares. The firm has greater confidence in both the company’s near-term and long-term financial success following its conference presentation. The analyst believes there is “significant upside potential” to the shares of MasTec, beyond the price target, as the company is in the “early innings of several mega-trends,” including energy transition, rural broadband, wireless equipment replacement and infrastructure funding.