American Tower has been all over the news lately with their
proposal to buy towers in Brazil and Mexico, but today Zolmax News reported
that, “American Tower Corp (NYSE:AMT)
was upgraded by analysts at ISI Group from a ‘neutral’ rating to a ‘buy’ rating
in a research report issued to clients and investors on Tuesday.”
American Tower currently has a $79.00 price target on the
stock and ISI Group’s price objective suggests a potential upside of 13.41 from
the company’s current price.
The analysts wrote, “We are upgrading American Tower (AMT)
to Buy from Neutral as the stock has seen meaningful share price
underperformance over the past three months (down 16% over that period which
equates to 20% relative underperformance vs. the S&P and a 750bp
underperformance vs. REITs) despite a Q2 earnings report and outlook for tower
demand which was better than expected. (Source: Zolmax News)
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