American Tower upgraded to Outperform from Market Perform at MoffettNathanson

MoffettNathanson upgraded American Tower to Outperform from Market Perform with a price target of $234, down from $244. The tower stocks "have come in a fair amount," logging their worst rolling three-year performance versus the S&P 500 Index since the industry’s "near-death experience two decades ago," the analyst tells investors in a research note. The firm says this is unusual for business models that "reliably" compound value. The weakness "creates a more interesting opening for investors," says the analyst, who upgraded three names in the sector.