FBR Capital analyst Alex Rygiel reiterated an Outperform rating and $39 price target on MasTec (NYSE: MTZ) following solid Q3 results and 2015 guidance after the close.

Rygiel commented, "Last night after the close, MasTec announced 3Q14 results that were right in line with our expectations and guidance. Guidance for 2014 was essentially reiterated with a slight up-tick is revenue, and EPS
of $1.55 (previous guide was a range of $1.55-$1.58, but new guidance likely includes some modest dilution from the recent WesTower acquisition). To our surprise, management provided preliminary 2015 guidance that appears in line to better than expectations given that it includes the acquisition when most estimates likely did not. We expect the conference call this morning to be positive, highlighting the very strong quarter for the oil & gas segment, and attractive bidding opportunities
across oil & gas, electric power and communications. We reiterate our Outperform rating as we believe revenue growth and margin expansion opportunities remain robust across several key end markets, including pipeline, electric transmission and wireless/wireline communications."

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Shares of MasTec closed at $26.47 yesterday.