Clear Street gives MasTec a bigger runway

The bull case just got louder

Clear Street raised its price target on MasTec to $390 from $330 and stuck with a Buy rating, basically telling investors the stock still has room to stretch after its monster 211% run over the past year.

Why datacenters are doing the heavy lifting

The catalyst here is datacenter growth. Clear Street thinks datacenter-related projects could make up 7% of MasTec’s revenue this year — 5% onsite work and 2% from fiber optic projects inside Communications. That may not sound huge, but in infrastructure-land, the good stuff is often the stuff with better margins and better visibility.

Backlog, but make it sexy

MasTec already flagged a $1 billion datacenter backlog back in February, and Clear Street is leaning into that. The firm also lifted its 2027 adjusted EBITDA estimate by 7%, saying higher-margin turnkey datacenter projects and some SG&A scale could fatten profits. Translation: not just more work, but potentially better work.

Big picture

MasTec is trading near its 52-week high, so this is less “hidden gem” and more “Wall Street thinks the engine still has gas.” For investors, the question is whether datacenter demand can keep turning this old-school construction name into a modern AI-adjacent winner.