MasTec stock target raised to $401 as Q1 project activity hits record growth, driven by US grid modernization.

Stifel raised MasTec's price target from $335 to $401 after its Q1 transmission and distribution survey showed the strongest project growth ever, signaling accelerated utility and grid projects. MasTec, benefiting from the US grid modernization and AI data center buildout, reported strong revenue and backlog growth, with 2026 revenue guidance at $17 billion. The upgrade reflects confidence in a sustained infrastructure supercycle, though risks like tariffs and policy shifts remain. This makes MasTec a compelling long-term play for investors focused on energy transition and infrastructure expansion.