MasTec price target raised to $160 from $125 at DA Davidson

DA Davidson raised the firm’s price target on MasTec (MTZ) to $160 from $125 and keeps a Buy rating on the shares after its Q3 earnings beat. The firm is citing the company’s positive margin progression, consistent solid cash generation, award strength and broader customer/end market demand themes, the analyst tells investors in a research note. MasTec’s continued and consistent execution on overall favorable demand trends should further support share appreciation from here, the firm added.