Scotiabank lowered the firm’s price target on American Tower (AMT) to $220 from $236 and keeps an Outperform rating on the shares. The firm has updated its earnings estimates and targets for companies it covers in the TMT Infrastructure sector, the analyst tells investors. The firm remains bullish on data center stocks and neutral on tower operators. Additionally, Scotiabank expects 2025 to show continued strong growth in data center activity and to be another “solid year” in core leasing and capacity expansion.
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