BMO Capital analyst Ari Klein raised the firm’s price target on American Tower to $260 from $246 and keeps an Outperform rating on the shares. The company closed on the previously announced sale of its India tower business with 12c of 2024 AFFO per share dilution expected, but while dilutive, the sale removes a business that’s historically been an overhang and reduces American Tower emerging market exposure, the analyst tells investors in a research note. The shift has also reflected American Tower’s current capital allocation priorities, the firm added.
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