Oil and Gas Recovery Powers MasTec Higher
So far, investors who've hoped that White House plans to implement infrastructure programs would come to fruition have been disappointed. Construction specialist MasTec (NYSE: MTZ) stands to be a big beneficiary of those plans if they ever happen, but it's also counting on the strength of key industries like the energy sector to help it recover some of the ground it has lost in recent years.
Coming into Thursday's third-quarter financial report, MasTec investors were prepared for slight declines in the company's bottom line, but they wanted to see revenue growth and signs of long-term progress. MasTec's results were better than most had expected and reflected a much better performance from the oil and gas industry. Let's look more closely at how MasTec did and what's ahead for the construction company.
Image source: MasTec.
Source: Fool.com
Mastec Inc. Stock
With 31 Buy predictions and not a single Sell prediction Mastec Inc. is an absolute favorite of our community.
As a result the target price of 109 € shows a slightly positive potential of 12.37% compared to the current price of 97.0 € for Mastec Inc..
