Baird Recommends Mastec Inc (MTZ) Stock. Here’s Why

Mastec Inc (NYSE:MTZ) is one of Peconic Partners' top stock picks. The hedge fund increased its holding in Mastec stock by 124% during Q1 2026, and the stock now makes up more than 19.9% of the fund's portfolio. Mastec shares have gained more than 80% year-to-date and surged more than 140% over the past year.

On June 18, Baird reaffirmed its Buy rating on Mastec Inc (NYSE:MTZ) stock with a price target of $473 on the shares. The brokerage expects the company to perform strongly in the year ahead and sees a pullback in the stock as a buying opportunity.

Mastec had a strong start to the year. It posted EPS of $0.77, reflecting an increase of 516% YoY. Revenue came in at $3.8 billion, indicating an increase of 34% YoY. The company exited the quarter with a record 18-month backlog of $20.3 billion, reflecting an increase of $4.4 billion from a year. Surging orders in the clean energy and infrastructure segment were a major contributor to the backlog growth.

Amid the swelling backlog, Mastec raised its full-year 2026 guidance. It expects full-year 2026 adjusted EPS of $8.79, compared to $6.55 in full-year 2025.

Florida-based Mastec Inc (NYSE:MTZ) is a specialty infrastructure contractor. It builds and maintains communications, energy, and utility infrastructure. For instance, its communications segment serves both wireless and wireline infrastructure markets.

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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