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MTZ

MasTec

$43.80

1.3 (3.06%)

14:21
08/29/18
08/29
14:21
08/29/18
14:21

MasTec spikes higher after FERC authorized MVP project to resume

Shares of infrastructure construction company MasTec (MTZ) are higher in afternoon trading after Terry Turpin, Director of FERC's Office of Energy Projects, issued a letter authorizing the Mountain Valley pipeline, MVP, project to resume construction between mileposts 77 and 303. Turpin said the "specific route of the project no longer seems in question." EARLIER FERC RULING: Earlier in August, MasTec announced that the Federal Energy Regulatory Commission issued a temporary stop work order for the Mountain Valley Pipeline, MVP, project late on Friday afternoon, August 3, related to the adequacy of permits previously issued by the Bureau of Land Management and the U.S. Forest Service. In the past ruling, the FERC had ordered that construction activities on the MVP temporarily stop while the permit issues are resolved. PRICE ACTION: Shares of MasTec are up almost 3% to $43.75 in afternoon trading.

  • 06

    Nov

MTZ MasTec
$43.80

1.3 (3.06%)

06/22/18
SBSH
06/22/18
NO CHANGE
SBSH
Buy
MasTec remains a favored E&C name at Citi
In a research note titled "Buy the Inflection," Citi analyst Andrew Kaplowitz says MasTec remains one of his favorite Engineering & Construction names. Despite visibility across all four of its businesses, MasTec shares continue to trade at a 7% discount to their historical 5-year average, Kaplowitz tells investors in a research note after spending time with management. If the company can prove that the handoff of growth from oil and gas to communications is happening and that cash flow concerns are only timing related, MasTec will be one of the few stories in E&C with both multiple expansion and earnings revision upside, the analyst contends. He keeps a Buy rating on the shares.
08/07/18
BARD
08/07/18
UPGRADE
BARD
Outperform
MasTec upgraded to Outperform from Neutral at Baird
08/07/18
BARD
08/07/18
UPGRADE
Target $53
BARD
Outperform
MasTec upgraded to Outperform at Baird
As reported previously, Baird analyst Andrew Wittmann upgraded MasTec to Outperform from Neutral and designated it as a Fresh Pick. The analyst said concerns of weak cash flow and the MVP project work stoppage have already been priced into the stock and now offer a potential catalyst for the shares. He sees solid near-term fundamentals and sees the risk/reward better below $50 a shares. Wittmann has a $53 price target on MasTec.
08/07/18
08/07/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. SeaWorld (SEAS) upgraded to Neutral from Underperform at Macquarie with analyst Matthew Brooks saying management is executing well, 1H 2018 attendance growth was impressive, and a new 2020 EBITDA goal heading into a seasonally strong period changes is cautious thesis. 2. Alnylam (ALNY) upgraded to Buy from Hold at Stifel with analyst Paul Matteis citing a series of upcoming, likely positive pipeline events for givosiran, lumasiran and ALN-TTRsc02 along with his confidence in Alnylam's ability to have a dominant position in the TTR amyloidosis market over the longer-term. 3. NeoPhotonics (NPTN) upgraded to Buy from Neutral at B. Riley FBR with analyst Dave Kang saying he sees improving fundamentals and increased his estimates following the company's Q2 results. 4. Illumina (ILMN) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Steve Beuchaw saying his prior thesis overestimated the impact of new products such as NovaSeq on utilization of the legacy installed base and failed to value critical new markets. 5. MasTec (MTZ) upgraded to Outperform from Neutral at Baird with analyst Andrew Wittmann saying concerns of weak cash flow and the MVP project work stoppage have already been priced into the stock and now offer a potential catalyst for the shares. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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QUMU

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