MasTec’s Q1 Revenue Jumps 34.5% to $3.83B; Price Target Raised to $460
KeyBanc lifted MasTec’s price target to $460 from $406, maintaining an Overweight rating and signaling confidence in stock performance. MasTec posted Q1 revenue of $3.83 billion, a 34.5% year-over-year gain, and EPS of $1.39, beating estimates and fueled by 91% pipeline and 45% clean energy segment growth.
1. KeyBanc Raises Price Target
KeyBanc increased MasTec’s price target to $460 from $406, maintaining an Overweight rating and reflecting strong confidence in the company’s growth trajectory and potential stock outperformance.
2. Strong Q1 Financial Results
MasTec delivered Q1 revenue of $3.83 billion, representing a 34.5% year-over-year increase that topped the $3.47 billion consensus, while EPS climbed to $1.39 from $0.51 a year ago, beating the $0.98 estimate.
3. Segment Performance
The Pipeline Infrastructure segment led the surge with 91% revenue growth, and the Clean Energy and Infrastructure segment expanded by 45%, driven by robust demand across energy, utility and communications projects.
4. Upgraded Annual Guidance
Buoyed by its strongest quarter in months, MasTec raised its full-year 2026 financial guidance, underscoring management’s confidence in sustained revenue and earnings growth across its core business segments.