UPDATE: D.A. Davidson & Co. Downgrades MasTec to Neutral as Shares Approach Target

In a report published Tuesday, D.A. Davidson & Co. analyst John B. Rogers downgraded the rating on MasTec MTZ from Buy to Neutral. In the report, D.A. Davidson & Co. noted, “The shares of MasTec have performed well over the past year, up over 20%, with much of the gain since October 2013. This price appreciation reflects solid execution and favorable market trends. With shares approaching our $38 price target, the near-term upside potential for the stock has diminished. Accordingly, we are lowering our rating on the shares to NEUTRAL from Buy.” MasTec closed on Friday at $36.58.