As previously reported, Craig-Hallum analyst Christian Schwab downgraded MasTec to Hold from Buy with a price target of $98, down from $113. The firm notes MasTec reported mixed Q2 results while guiding the rest of the year lower. Craig-Hallum believes the company is positioned for continued strong growth in its Clean Energy business, despite the near-term project pushouts. That being said, with shares already trading at 9-times EV/EBITDA on the firm’s 2024 estimate, Criag-Hallum thinks reasonable execution is already priced in.
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Read More on MTZ:
- MasTec price target lowered to $129 from $138 at B. Riley
- MasTec price target lowered to $116 from $125 at Baird
- MasTec downgraded to Hold from Buy at Craig-Hallum
- MasTec price target lowered to $120 from $130 at TD Cowen
- MasTec price target lowered to $116 from $135 at Citi
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