Why MasTec Shares Shot 6% Higher on Monday
The U.S. House of Representatives was the body directly responsible for infrastructure specialist MasTec's (NYSE: MTZ) more than 6% share price pop on Monday. The House's long-anticipated passing of the infrastructure bill is an obvious plus for the company, and the bull case for the stock was supported by a pair of analyst price-target increases.
Late Friday night, after weeks of occasionally bitter intra-Democratic party bickering, the House finally passed the bill. It currently has a price tag of $555 billion, but in the grand tradition of big federal spending packages, that number is sure to rise as the initiative rolls out.
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Source Fool.com
