MasTec (MTZ) : Analyst Rating Update

MasTec (MTZ) : Zacks Investment Research ranks MasTec (MTZ) as 2, which is a Buy recommendation. 9 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. A total of 3 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 12 research analysts is 1.5, which indicates as a Strong Buy.

MasTec (MTZ) : Average target price received by MasTec (MTZ) is $24.46 with an expected standard deviation of $2.61. The most aggressive target on the stock is $29, whereas the most downbeat target is $20. 12 financial analysts are currently covering the stock.

MasTec (NYSE:MTZ): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $22.62 and $22.52 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $23.30. The buying momentum continued till the end and the stock did not give up its gains. It closed at $23.16, notching a gain of 1.67% for the day. The total traded volume was 724,575 . The stock had closed at $22.78 on the previous day.

Also, Canaccord Genuity initiates coverage on MasTec (NYSE:MTZ).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Canaccord Genuity announces the price target of $23 per share. The rating by the firm was issued on April 11, 2016. The company shares have rallied 19.83% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $24.67 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $22.74 and the 200 Day Moving Average price is recorded at $19.28.

MasTec, Inc. is an infrastructure construction company. The Companys primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber and satellite communications; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; power generation, and industrial infrastructure. The Company manages its operations under five operating segments: Communications; Oil and Gas; Electrical Transmission; Power Generation and Industrial, and Other. The Company offers its services primarily under the MasTec service mark and it has operations across 460 locations. It provides services under master service and other service agreements, which are generally multi-year agreements. It offers its service offerings in markets, including wireless services; natural gas, natural gas liquids and petroleum pipeline; and electrical transmission, among others.

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