MasTec shares surge after acquiring Superior Group to expand data-center electrical contracting capacity amid AI infrastructure demand.
MasTec (MTZ) climbed past a key technical level Thursday after Cantor Fitzgerald analysts raised their price target following the company’s acquisition of Superior Group, a leading electrical contractor. The deal enhances MasTec’s exposure to data-center construction, a sector driven by AI infrastructure growth.
Prior to the announcement, MasTec had gained attention as a proxy for AI-related construction demand. Sterling Infrastructure (STRL), another data-center builder, saw shares rise 6% Tuesday and surged over 50% in a single session earlier this month, reflecting investor appetite for the sector.
The acquisition positions MasTec to capitalize on increased spending for data-center electrical infrastructure, a critical component of AI expansion. No immediate market reaction details were provided beyond the stock’s technical breakout.