UPDATE: D.A. Davidson Upgrades MasTec as Share Pullback Provides Opportunity

In a report published Thursday, D.A. Davidson & Co. analyst John B. Rogers upgraded the rating on MasTec (NYSE: MTZ) from Neutral to Buy, and reiterated the $38.00 price target.

In the report, D.A. Davidson & Co. noted, “Price decline warrants attention. The shares of MasTec have recently pulled back from a high point of $35 and are now trading at a notable discount to our $38 price target. We view the discount as an opportunity and are raising our rating to BUY from Neutral. Despite notable growth and prospects, the shares are now trading at a discount to most peers.”

MasTec closed on Wednesday at $30.54.