Kevin Smithen and Will Clayton, analysts at Macquarie Securities, recently upgraded American Tower to “Outperform” with a target price of $107. “We believe that AMT’s management will slow down the pace of global M&A over the next 12-18 months and focus on VZ tower lease-ups and a potential public safety opportunity in 2016, despite a plethora of assets reportedly for sale in Europe, India, Africa and LatAm,” the analysts wrote. “In our view, tower stocks perform the best when there is no M&A and the companies can naturally deleverage and return excess cash to shareholders.” Continue reading here.
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