American Tower price target raised to $240 from $230 at Goldman Sachs

Goldman Sachs raised the firm’s price target on American Tower to $240 from $230 and keeps a Buy rating on the shares after its Q2 earnings beat. The stock should sustain its move higher following results in light of upside across LatAm and datacenters and strong margin performance, Street estimates should move modestly higher following results, the analyst tells investors in a research note. The management delivered a crisp message around its portfolio optimization strategy that should bolster investor confidence around American Tower’s ability to sustain strong AFFO per share growth, the firm added.