MasTec Inc (MTZ): Surging Blacklog Brightens Stock Outlook

MasTec Inc (NYSE:MTZ) is one of the best large cap stocks to buy in 2026 according to billionaire Dan Loeb. The stock has gained 120% over the past six months and surged nearly 170% over the past 12 months. The Street sees more upside in MTZ stock.

MasTec Inc (MTZ): Surging Blacklog Brightens Stock Outlook

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On May 4, TD Cowen boosted its price target on MasTec shares to $445 from $320 while keeping a Buy rating on the stock. The firm based its decision on MasTec’s solid Q1 2026 results and backlog growth, saying that it continues to see upside for the stock from backlog coverage.

The Q1 2026 report showed revenue increased 34% YoY to $3.83 billion, exceeding the $3.48 billion that analysts expected. EPS came in at $1.39, compared to $0.51 a year ago and above the anticipated $0.99.

MasTec’s 18-month backlog hit a record of $20.3 billion, reflecting an increase of $1.4 billion from Q4 2025. The company said the backlog growth was driven by strong growth in its clean energy and infrastructure segment.

Looking ahead, MasTec anticipates 2026 revenue of $17.5 billion, compared to $14.3 billion in 2025. The management sees the clean energy segment driving much of that topline growth. The 2026 EPS is expected to be $8.79, reflecting a 34% YoY increase.

MasTec Inc (NYSE:MTZ) is engaged in engineering, construction, and maintenance of energy and communications infrastructure. It operates in market segments such as power delivery, renewable energy, pipeline, and communication networks. The company was founded in 1994 and is based in Florida.

While we acknowledge the risk and potential of MTZ as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MTZ and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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