Roth Capital raised the firm’s price target on MasTec (MTZ) to $250 from $210 and keeps a Buy rating on the shares after the firm hosted a webinar with CEO Jose Mas and VP of investor relations Chris Mecray. Roth Capital believes the recent upside move reflects growing recognition of a “strong resurgence” in MasTec’s gas pipeline business, as well as margin upside potential. Management is continuing to execute across all segments, and with a long list of macro tailwinds and a growing backlog approaching record levels in 2025, the firm sees further upside ahead, Roth told investors in a research note.
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