BMO Capital analyst Ari Klein lowered the firm’s price target on American Tower (AMT) to $245 from $255 and keeps an Outperform rating on the shares. The company’s Q3 results were messy, with discontinued operations making for tough comparisons, though underneath the hood, overall results were a bit better, the analyst tells investors in a research note. U.S. leasing was a tad light, but carrier activity continues to improve and forecasted 2025 growth of 4.5% is better than expected, BMO added.
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Read More on AMT:
- American Tower sees FY24 AFFO $9.86-$10.03, consensus $10.49
- American Tower reports Q3 AFFO $2.52, consensus $2.54
- AMT Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- American Tower price target raised to $255 from $223 at Barclays
- American Tower downgraded on slow near-term leasing at Wells Fargo