Deutsche Bank lowered the firm’s price target on American Tower (AMT) to $210 from $235 and keeps a Buy rating on the shares as part of a Q4 earnings preview. The firm believes tower valuations “reflect many negatives amidst weak investor sentiment,” but that the stocks lack imminent catalysts to re-rate. Deutsche sees greater longer-term upside to towers, but acknowledges that data centers “have more near-term momentum on their side.”
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