Goldman Sachs Initiates Mastec With Buy, Sees 32% Upside

September 17, 2021 8:41 AM | 1 min read | Make a Comment

Goldman Sachs analyst Neil Mehta initiated MasTec, Inc. MTZ coverage with a Buy rating and a price target of $120, implying an upside of 32.74%.
Mehta says the company is levered to long-term secular growth trends, including the modernization and hardening of America's aging utility infrastructure, the transition toward renewable power generation, and the nationwide buildout of optical fiber and 5G telecommunications infrastructure.
The analyst believes MasTec offers attractive opportunities for investors to gain exposure to these trends, which he expects should drive growth through the decade.
Price Action: MTZ shares are trading higher by 1.84% at $92 during the premarket session on Friday.