American Tower price target raised to $246 from $225 at BMO Capital

BMO Capital raised the firm’s price target on American Tower to $246 from $225 and keeps an Outperform rating on the shares after its Q2 earnings beat. The company delivered better organic growth in all regions, CoreSite’s second highest leasing quarter, property revenue/EBITDA/AFFO upside boosted by an India reserve reversal, and the lowest leverage in three years, the analyst tells investors in a research note.