American Tower price target raised to $248 from $225 at Citizens JMP

Citizens JMP raised the firm’s price target on American Tower (AMT) to $248 from $225 and keeps an Outperform rating on the shares. American Tower posted “solid” Q4 results, supported by organic tenant billings growth and robust demand in the company’s international markets, the analyst tells investors in a research note. The firm remains confident in the company’s ability to drive mid-single-digit revenue and AFFO growth despite near-term headwinds associated with foreign exchange and elevated churn from the Sprint decommissioning and international customer consolidation.