MasTec beats Q2 earnings estimates; analyst sees 40% stock upside despite recent dip

MasTec reported strong Q2 2026 earnings with $2.22 per share, beating estimates and showing 23% revenue growth to $4.37 billion. Morgan Stanley set a $369 price target, implying a 40% upside from the current $263 stock price. Despite solid financials and improved profitability, the stock recently dropped nearly 19% in one day. The outlook remains positive given MasTec's role in infrastructure and clean energy projects across North America.