MasTec price target raised to $135 from $113 at Citi

Citi analyst Andrew Kaplowitz raised the firm’s price target on MasTec to $135 from $113 and keeps a Buy rating on the shares after traveling with management. MasTec has recognized its operational issues, learned from them, and is well poised to improve margins over time, the analyst tells investors in a research note. While the company’s profitability has also been pressured by some end market choppiness, MasTec “sounds generally confident regarding resilient demand across all its end markets,” writes the firm. Citi sees good opportunity for the stock’s valuation to rise over time.