D.A. Davidson & Co. on MasTec; Lowers Price Target

In a research note released Tuesday, DA Davidson analyst John Rogers maintained a neutral rating on MasTec, Inc.

. Additionally, the firm has lowered its price target from $45.00 to $34.00. The company's management warned of delays in investment by customers in wireless Infrastructure and oil and gas projects. The company also had its largest customer AT&T cancel or delay its contract; this is expected to reduce revenues by $45.00 to $50.00 million as compared to previous expectations. The firm is reducing estimates, and is reducing its second quarter and subsequent earnings projections for the company. Shares of the company MasTec, Inc. are up three percent.