Shares of MasTec Under Pressure, Down 1.4%

Published on Wed, 01/30/2013 - 11:30
By Adrienne Chilton in Market movers, MTZ, market movers, mastec, nyse:mtz

MasTec (NYSE:MTZ) is one of today's notable stocks in decline, down 1.4% to $28.30. The Dow is trading fractionally lower to 13,937 and the S&P is currently down 0.2% to 1,505.

There is potential upside of 0.9% for shares of MasTec based on a current price of $28.30 and an average consensus analyst price target of $28.56. The stock should discover initial support at its 50-day moving average (MA) of $24.62 and subsequent support at its 200-day MA of $19.71.

MasTec, Inc. builds internal and external voice, video, data, Internet, and other computer and communications networks. The Company designs, installs, constructs, and maintains aerial, underground, and buried copper, coaxial, and fiber optic cable networks, as well as wireless antenna networks. Customers include telecommunications service providers and cable television operators.

Over the past year, MasTec has traded in a range of $12.86 to $28.71 and is now at $28.30, 120% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has advanced 1.5%.

By Adrienne Chilton
achilton@fnno.com

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