Canaccord Genuity Raises Estimates and PT on American Tower (AMT); Strong Organic Core Growth in Q2

August 2, 2012 9:55 AM EDT
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Price: $105.17 +1.66%

Rating Summary:
    20 Buy, 4 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 10
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Canaccord Genuity maintains a 'Buy' on American Tower (NYSE: AMT) price target of $80.00 (from $72.00).

Analyst, Greg Miller, said, "Following a very solid 2Q12 report that contained a another increase in AFFO guidance despite significant currency headwinds, we were only marginally disappointed that the report did not include the expected T-Mobile USA MLA or the still-possible acquisition of the 7,000-plus T-Mobile USA towers that are likely still on the market for sale. We are increasing our price target with the adjustments assuming the stock begins to trade at a premium multiple relative to REITs. We expect the stock will remain a safe haven in an otherwise turbulent market."

For an analyst ratings summary and ratings history on American Tower click here. For more ratings news on American Tower click here.

Shares of American Tower closed at $71.56 yesterday.

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