American Tower price target lowered to $228 from $235 at BMO Capital

BMO Capital lowered the firm’s price target on American Tower to $228 from $235 and keeps an Outperform rating on the shares. The company reported solid Q4 results, with broad-based upside bolstered by one-time benefits and its 2024 guidance was largely in line, including upside to US organic growth with international more mixed, the analyst tells investors in a research note. American Tower also noted green-shoots in carrier activity that it expects will drive improving services in the second half and leasing, though the company lost some visibility as a big three carrier master lease agreement expired, the firm added.