Goldman Sachs analyst Brett Feldman upgraded American Tower to Buy from Neutral with a price target of $245, up from $215. The analyst believes telecom infrastructure stocks look attractive heading into 2023. They are exposed to "secular tailwinds" and can consistently grow funds from operations at "industry-leading" rates through various economic cycles and have the ability to consistently return capital to shareholders through dividends and buybacks, Feldman tells investors in a research note. Based on this outlook, he upgraded tower operator American Tower to Buy.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on AMT:
- 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
- Office REITs are Facing Trouble. Consider This REIT Instead