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MasTec Has Promising Long-Term Business Prospects
May 9, 2018
- MasTec recently reported better-than-expected Q1 2018 results but the company's stock is still under pressure.
- This company is in a position to benefit from several major industry trends/tailwinds, which makes MasTec well-positioned for 2018 and beyond.
- MasTec is a long-term buy at today's price.
On April 30, 2018, MasTec ($MTZ) reported better-than-expected Q1 2018 results and management raised the company's full-year 2018 guidance. A classic beat and raise. MTZ shares are basically flat since the Q1 2018 earnings were released but, more importantly, the stock is still significantly underperforming the broader market on a YTD basis.
I believe that underperformance has created a great long-term buying opportunity because, in my opinion, this company has an improving backdrop and promising long-term business prospects.