American Tower price target raised to $240 from $230 at JPMorgan

JPMorgan raised the firm’s price target on American Tower to $240 from $230 and keeps an Overweight rating on the shares. The company reported solid Q2 results with 5.1% organic domestic growth and 5.5% international growth driven by Africa and Europe, the analyst tells investors in a research note. The firm says American Tower raised guidance mostly due to India-related reserve reversals and better European growth.