American Tower price target lowered to $215 from $224 at Morgan Stanley

Morgan Stanley analyst Simon Flannery lowered the firm’s price target on American Tower to $215 from $224 and keeps an Equal Weight rating on the shares. After trading well early in the year, Tower stocks have struggled to sustain January’s momentum and are now underperforming on the year, the firm noted. While current valuations are "not overly compelling," the group continues to screen well and provides an alternative to commercial real estate sectors facing more pressure, adds the firm in a Communications Infrastructure Q1 earnings preview note.