American Tower price target raised to $238 from $227 at Raymond James

Raymond James analyst Ric Prentiss raised the firm’s price target on American Tower to $238 from $227 and keeps an Outperform rating on the shares. American Tower’s better than expected results were helped by strong fundamentals and some international churn delays, and Raymond James says a slight increase to AFFO guidance better FX counters the sale of the Mexico Fiber business, the analyst tells investors in a research note. The firm continues to see an attractive risk-reward in all three tower stocks.