American Tower price target raised to $236 from $218 at JPMorgan

JPMorgan analyst Philip Cusick raised the firm’s price target on American Tower to $236 from $218 and keeps an Overweight rating on the shares after meeting with management. American Tower CEO Steve Vondran expects the 5G upgrade cycle to follow previous cycles and activity to ramp back up after the current slowdown from the recent peak deployment levels, the analyst tells investors in a research note. The firm says the company remains its favorite tower name.