UBS Raises Numbers on American Tower (AMT); Expect Dividend Growth to Exceed AFFO Growth In Next Couple Years

May 4, 2012 2:05 PM EDT
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Price: $104.20 -0.23%

Rating Summary:
    20 Buy, 4 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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UBS maintains a 'Buy' on American Tower (NYSE: AMT) price target raised from $72 to $75.

Analyst, Batya Levi, said, "AMT reported strong results, beating our estimate for rental rev growth in the US by 170 bps largely based on increased activity from AT&T (NYSE: T) and Verizon (NYSE: VZ). Management suggested organic growth in the U.S. was 8.5% while int’l organic growth was ahead at 9.3%. Management expects international growth to accelerate to double-digits in 2012."

UBS raises FY12 FFO from $1.74 to $1.90 and FY13 from $2.08 to $2.28.

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 $67.05 yesterday.

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