MasTec price target raised to $145 from $123 at KeyBanc

KeyBanc raised the firm’s price target on MasTec to $145 from $123 and keeps an Overweight rating on the shares. The firm believes the company is still in the early stages of earning investor confidence through consistency in execution. Despite the strong performance this year, shares still trade at a discount to specialty contractor peers, offering decent upside potential with positive momentum in Comms and Electric Power in particular, KeyBanc adds. The firm expects management to continue to telegraph positive momentum in the Clean Energy segment and potential upside in Q4 from storm restoration related work.