Canaccord Genuity Starts American Tower (AMT) at Buy; Positioned as Highest Growth Tower Co.

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Canaccord Genuity initiates coverage on American Tower (NYSE: AMT) with a Buy. PT $70.00.

Analyst, Greg Miller, said, "As the company uses up its NOLs in the next few years, we believe dividend yield will likely increase to levels similar to comparable REITs, driving additional investor interest and its share price. We believe conservative 2012 guidance should provide additional upside."

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 $62.27 yesterday, with a 52 week range of $46.04-$64.55.

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