Barclays analyst Adam Seiden raised his price target for MasTec to $70 from $60 saying he sees "several paths to outperformance." The analyst believes the Street is undermodeling the company's Communications revenue. Further, recent peer performance suggests the 5G inflection is nearing, Seiden tells investors in a research note. The analyst's pipeline tracker shows a "solid backlog of prospects" that should enable MasTec to hold sales more even than he feared. MasTec remains "undervalued and undermodeled" given its growth opportunities ahead, says Seiden, who keeps an Overweight rating on the shares.