TD Cowen cuts target for MasTec stock to USD 320.00

Published on 10/07/2026 at 05:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue reached USD 4.37 billion, up 23.40 percent year over year. MasTec stock is valued at USD 18.3 billion.

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MasTec (ISIN US5763231090) faces a lower TD Cowen price target of USD 320.00, down from USD 420.00, while the analyst firm kept its Buy rating on October 5, 2026. The revision reflects delayed pipeline work and a more measured outlook for Clean Energy and Infrastructure growth.

TD Cowen cuts its target

According to Markets Insider on October 5, 2026, TD Cowen analyst Marc Bianchi lowered the target from USD 420.00 to USD 320.00 and retained a Buy rating. The firm said pipeline work pushed into the third quarter could be offset by upside in Power Delivery.

The target cut gives investors a concrete counterweight to MasTec's operating growth. TD Cowen also said fourth-quarter performance could exceed guidance if pipeline projects convert and Power Delivery remains strong, according to Markets Insider.

Revenue grows, earnings lag slightly

MasTec reported second-quarter revenue of USD 4.37 billion, a 23.40 percent year-over-year increase, according to MarketBeat. Revenue exceeded the USD 4.30 billion consensus estimate, while earnings per share of USD 2.22 came in USD 0.01 below the USD 2.23 consensus.

The comparison matters because the revenue acceleration has not removed execution concerns. MarketBeat reported that second-quarter revenue rose from USD 3.54 billion a year earlier, while MasTec's current-quarter guidance was USD 2.98 for adjusted earnings per share.

Backlog supports the growth case

MasTec's investor-relations release for the second quarter described a record 18-month backlog of USD 21.40 billion, up USD 4.90 billion from a year earlier and USD 1.10 billion from the prior quarter. The release also highlighted 58.00 percent year-over-year growth in Clean Energy and Infrastructure backlog, according to MasTec.

That backlog provides a visible demand base, but the analyst revisions show that timing remains central to the stock's valuation. MasTec operates across Communications, Power Delivery, Pipeline Infrastructure and Clean Energy and Infrastructure, linking the growth opportunity to several infrastructure markets.

Market value and trading reference

MasTec had a market capitalization of USD 18.3 billion as of October 6, 2026. Its 52-week range was USD 182.34 to USD 441.43, placing the valuation between a recent low and a substantially higher annual peak.

The Lang & Schwarz data set showed a prior close of EUR 202.75 for the October 6, 2026 trading date. The further course of trading is shown by the continuously updated real-time quote of MasTec stock.