American Tower price target raised to $236 from $225 at RBC Capital

RBC Capital analyst Jonathan Atkin raised the firm’s price target on American Tower to $236 from $225 and keeps an Outperform rating on the shares. The management raised financial guidance midpoints with the company’s Q2 results, while American Tower also received regulatory approval for its India disposition in the first week of August, the analyst tells investors in a research note. The firm adds that its higher price target reflects slightly higher valuation multiples and a moderation in interest rates.