American Tower: Don’t Worry, Be Happy

Okay, Josh Cantrell didn’t say exactly “don’t worry, be happy” about American Tower’s stock price but the headline over his article in SeekingAlpha.com did read: “American Tower: Investor Worries Overdone.” On February 10, he said, “American Tower’s stock price has been punished of late and currently sits at a 52-week low. The market seems to be running from companies with high levels of debt and/or high P/E multiples. AMT has both.”

But Cantrell reasoned that AMT debt and high P/E “are attributable to aggressively measured growth initiatives around the globe, rather than irresponsible spending or mismanagement.” He also believes that medium- to long-term prospects “look very promising for AMT and growth story remains intact.” Continue Reading