MasTec

MTZ · NYSE

$187.34−$3.57 (−1.87%)TodayMarket closed · Oct 20, 7:58 PM ET

Prev close $190.91

MTZ analyst rating

BuyConsensus of 21 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy21
Hold0
Underperform0
Sell0

12-month price target · 24 analysts

Average $425.79 (+127.3% upside)

Low: $247.12
Now: $187.34
High: $598.50

Upgrades and downgrades

The latest rating actions, newest first

MTZ analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
JP Morgan	Oct 19, 2026	Maintains	Overweight	$369.00 → $303.00	48%
Barclays	Oct 19, 2026	Maintains	Overweight	$340.00 → $320.00	39%
Keybanc	Oct 15, 2026	Maintains	Overweight	$371.00 → $320.00	47%
Stifel	Oct 8, 2026	Maintains	Buy	$376.00 → $305.00	67%
Truist Securities	Oct 5, 2026	Maintains	Buy	$428.00 → $380.00	59%
TD Cowen	Oct 5, 2026	Maintains	Buy	$420.00 → $320.00	51%
Piper Sandler	Sep 28, 2026	Maintains	Overweight	$321.00 → $313.00	38%
Piper Sandler	Sep 9, 2026	Initiates	Overweight	$321.00	38%
Goldman Sachs	Aug 12, 2026	Maintains	Buy	$508.00 → $409.00	65%
UBS	Aug 4, 2026	Maintains	Buy	$453.00 → $410.00	57%

The case for and against

Updated Oct 14, 2026

Bull case

MasTec is supported by a backlog of about $21B and book-to-bill above 1.2x, signaling strong revenue visibility as utility, communications, pipeline, and renewables demand remain resilient. The company’s thesis is strengthened by Power Delivery’s record backlog and infrastructure spending tied to transmission, substations, and grid hardening, which can offset pipeline margin pressure while benefiting from secular electrification. Superior further enhances the outlook by adding inside-the-fence electrical capability and improving mix, with expected 2027 revenue of $2.2B-$2.5B and adjusted EBITDA of $250M-$275M before synergies, reinforcing margin expansion and earnings leverage.

Bear case

MasTec is facing a weaker fundamental setup because Communications guidance was cut to about $3.25B in revenue and high-single-digit EBITDA margins, while FY2026 Communications EBITDA is now estimated near $290M versus roughly $311M in FY25. Pipeline Infrastructure is also seeing margin pressure, with 3Q adjusted EBITDA margin lowered to 12% as project timing hurts work mix and cost absorption, even as revenue holds near the $645MM guide. Although backlog and data-center-related power demand offer some support, fixed-price contract risk, labor inflation, permitting delays, and customer concentration leave earnings quality vulnerable and make the stock’s reaction to recent weakness look hard to justify.

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