American Tower price target lowered to $235 from $242 at Argus

Argus lowered the firm’s price target on American Tower (AMT) to $235 from $242 and keeps a Buy rating on the shares after its Q4 results. The REIT has maintained top-line growth and earnings momentum in spite of lower wireless spending, the analyst tells investors in a research note. American Tower’s India exit will also be a long-term positive and with expansion focused on other geographic areas in 2025, the company is seen as building long-term growth prospects, which should allow the company to return to dividend growth, Argus adds.