MasTec price target raised to $168 from $153 at KeyBanc

KeyBanc raised the firm’s price target on MasTec (MTZ) to $168 from $153 and keeps an Overweight rating on the shares. The firm’s bullish stance is premised on project activity that is currently underway and not on thematic upside. KeyBanc sees the turnaround continuing with improved execution and cash management leading to further margin improvement, which combined with revenue growth should lend confidence in management’s ability to sustain the turnaround.