Barclays analyst Brendan Lynch raised the firm’s price target on American Tower (AMT) to $251 from $250 and keeps an Overweight rating on the shares as part of a Q3 preview for the tower group. Towers have been under pressure since Q2 earnings, reflecting crowded positioning and news flow about spectrum sales, the analyst tells investors in a research note. The firm thinks the industry dynamics are not well understood and views the recent price action as “overly pessimistic.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMT:
- American Tower price target lowered to $235 from $270 at Morgan Stanley
- SBA Communications price target lowered to $220 from $260 at Morgan Stanley
- American Tower price target lowered to $225 from $250 at Citi
- American Tower downgraded to Sector Perform from Outperform at RBC Capital
- Early notable gainers among liquid option names on September 25th