Deutsche Bank analyst Matthew Niknam upgraded American Tower to Buy from Hold with a price target of $254, up from $240. The analyst expects American Tower’s proportionate funds from operations growth will outpace peers over the next several years, despite its current valuation "that sits at the middle of the pack." The company’s "well diversified" global portfolio positions it best as a top beneficiary of global mobile data traffic growth over the next several years, Niknam tells investors in a research note.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on AMT:
- American Tower upgraded to Buy from Neutral at Goldman Sachs
- American Tower price target lowered to $240 from $323 at Deutsche Bank
- American Tower price target raised to $245 from $225 at Wells Fargo
- American Tower price target lowered to $270 from $278 at UBS
- Top Hedge Fund Expert Chuck Akre Favors These 3 Stocks