UBS Maintains a 'Buy' on American Tower (AMT); Lot to Like, but FX Hindering

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UBS maintains a 'Buy' on American Tower (NYSE: AMT) price target of $80.00 (from $75.00).

Analyst, Batya Levi, said, "AMT reported solid results with accelerating core revenue growth generated from the existing sites (8.1% vs. 6.1% in 2Q) based on strong activity from AT&T (NYSE: T), VZW, Sprint (NYSE: S) and int’l operators and low churn while FX drag was 6.3%. Mgmt expects organic growth to remain at ~9% in 2H, with a consistent 7%+ growth in the US and double-digit growth internationally."

FY12 EPS estimate lowered from $1.86 to $1.51 and FY13 raised from $2.26 to $2.29.

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, with a 52 week range of $46.04-$75.62.

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