American Tower price target lowered to $220 from $228 at BMO Capital

BMO Capital lowered the firm’s price target on American Tower to $220 from $228 but keeps an Outperform rating on the shares. The company reported “solid” Q1 results, with better organic growth in all regions and the best retail data center leasing since Q4 of 2020, the analyst tells investors in a research note. BMO adds that it remains positive on American Tower’s diversification, improving balance sheet, and the resiliency of its model, along with the stock’s “attractive” valuation.