Canaccord Genuity Reaffirms Buy Rating on American Tower Corporation (AMT)
A number of other analysts have also recently weighed in on AMT. Analysts at Benchmark Co. raised their price target on shares of American Tower Corporation from $72.00 to $74.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Piper Jaffray (NYSE: PJC) downgraded shares of American Tower Corporation from an “overweight” rating to a “neutral” rating in a research note to investors on Friday, April 13rd. They now have a $70.00 price target on the stock. Finally, analysts at Credit Suisse (NYSE: CS) initiated coverage on shares of American Tower Corporation in a research note to investors on Thursday, March 15th. They set an “outperform” rating and a $75.00 price target on the stock.
American Tower Corporation traded up 1.22% on Friday, hitting $67.25. American Tower Corporation has a 1-year low of $46.04 and a 1-year high of $65.18. The company has a market cap of $26.489 billion and a price-to-earnings ratio of 50.49.
American Tower Corporation last released its earnings data on Thursday, May 3rd. The company reported $0.56 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.41 by $0.15. American Tower Corporation’s revenue was up 23.8% compared to the same quarter last year. Analysts expect that American Tower Corporation will post $0.42 EPS next quarter.
American Tower Corporation is a holding company. The Company is a wireless and broadcast communications infrastructure company that develops, owns, and operates communications sites, including wireless communications towers, broadcast communications towers and distributed antenna system (DAS) networks.