This post was originally published on this site
https://i-invdn-com.investing.com/news/LYNXMPEB280W7_M.jpg
The firm highlighted MasTec’s solid progress in rebuilding trust in its execution capabilities, which is expected to drive growth. With a current enterprise value to 2024 estimated earnings before interest, taxes, depreciation, and amortization (EBITDA) multiple of 9.6, MasTec is considered undervalued compared to its larger competitor, which trades at a significantly higher multiple in the high teens.
The analyst from TD Cowen expressed optimism about MasTec’s growth outlook but suggested that the market may require additional proof of consistent performance. The firm anticipates that MasTec will need to demonstrate a few more quarters of solid execution before the valuation gap with its competitor narrows.
MasTec’s recent financial release and the subsequent price target raise reflect the company’s efforts to enhance its market position. The firm’s analysis points to a favorable comparison with industry peers, potentially making MasTec an attractive proposition for investors.
The updated price target of $105 represents a substantial increase and suggests that TD Cowen foresees considerable upside potential for MasTec’s shares. The Outperform rating indicates the firm’s belief that MasTec will perform better than the overall market or its sector in the foreseeable future.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
