Wunderlich Has Buy On MasTec (MTZ)

Wunderlich Securities has a Buy rating and a $18 price target on shares of MasTec, Inc. MTZ. In a note to clients, Wunderlich writes, "MasTec, Inc. (MTZ) reports 4Q10 results after the close today, Wednesday, February 23. The Street is looking for revenue and EPS of $649 million and $0.38, respectively, and we expect the company to meet or exceed these estimates. Our revenue and EPS forecasts are for $643 million and $0.38, respectively. With estimated 2012 EPS of $1.66, the shares trade at a P/E of 10x; this implies a PEG of a little more than 0.6 on 2012E. The business opportunities MTZ is currently seeking are projects of an ever-larger scope as the U.S. seeks to add renewable energy capacity and upgrade the existing grid. MTZ shares appear undervalued relative to peers. We rate MTZ shares Buy with an $18 price target." Shares of MTZ lost 40 cents yesterday to close at $16.27, a loss of 2.4%.