MasTec price target raised to $99 from $74 at Citi

Citi analyst Andrew Kaplowitz raised the firm’s price target on MasTec to $99 from $74 and keeps a Buy rating on the shares. With relatively good quarterly results and solid 2024 guidance, MasTec is demonstrating early signs of stabilizing performance, which could alleviate, to some extent, investor concerns regarding its ability to consistently execute, the analyst tells investors in a research note. The firm says MasTec has prudently level set Q1 expectations, which creates an easier hurdle to clear.