KeyBanc analyst Sean Eastman lowered the firm's price target on MasTec to $68 from $75 to reflect the specialty E&C group re-rating lower in the recent market turmoil, while keeping an Overweight rating on the shares. The company's 2020 outlook is back-end loaded, but the analyst believes management has set a comfortably achievable expectation for the year. 2019 results notably exceeded initial expectations despite considerable pipeline and wireless revenue pushouts, he adds. Eastman views MasTec's underlevered balance sheet as underappreciated at current levels, with capital allocation representing a potential near-term catalyst.