Company Reports

We are increasing our fair value estimate for no-moat MasTec to $93 from $84 following first-quarter earnings. The main driver of our high valuation is increased long-term margin assumptions. We view shares as fairly valued.

MasTec is a leading infrastructure construction company for customers in the telecom, renewable energy, utility, and oil and gas pipeline industries. The company primarily operates in North America.

We raise our fair value estimate for no-moat MasTec to $84 per share from $70 after the company’s fourth-quarter earnings. The main driver of our higher valuation is increased revenue assumptions for the company's communications and oil and gas segments. We view shares as fairly valued after rallying in recent months.

MasTec is a leading infrastructure construction company for customers in the telecom, renewable energy, utility, and oil and gas pipeline industries. The company primarily operates in North America.

Clean energy stocks have had a roller-coaster 18 months. Optimism following the passage of the Inflation Reduction Act in August 2022 gave way to rising interest rates in 2023. We highlight three key themes for investors to focus on in 2024: interest rates, U.S. policy, and profitability.

We lower our fair value estimate for no-moat MasTec to $70 per share from $86 after the company’s third-quarter earnings in which it lowered 2023 guidance. The main driver of our lower valuation is lower revenue growth and margin expansion versus our prior estimates. MasTec shares are trading down 17% pre-market following the guidance cut. We view shares as undervalued given low expectations following a challenging 2023 for the company.

MasTec is a leading infrastructure construction company for customers in the telecom, renewable energy, utility, and oil and gas pipeline industries. The company primarily operates in North America.

We lower our fair value estimate for no-moat MasTec to $86 per share from $103 after updating our financial expectations. The key driver of our lower valuation is lower revenue growth in the company's Communications and Clean Energy and Infrastructure segments. We view MasTec shares as undervalued.

MasTec is a leading infrastructure construction company for customers in the telecom, renewable energy, utility, and oil and gas pipeline industries. The company primarily operates in North America.

We are initiating coverage of MasTec with a no-moat rating and $103 fair value estimate. We view shares as fairly valued.

MasTec is a leading infrastructure construction company for customers in the telecom, renewable energy, utility, and oil and gas pipeline industries. The company primarily operates in North America.