Wedbush Starts American Tower (AMT) at Outperform; REIT Conversion Adds Gravy to a Hearty Growth Story
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Price: $175.80 +0.05%
Rating Summary:
32 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
32 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Wedbush initiates coverage on American Tower (NYSE: AMT) with a Outperform. PT $70.00.
Wedbush analyst said, "We view the REIT conversion as adding gravy to a hearty growth story. We expect additional upside post conversion and see continued benefit from domestic 4G overlay and exposure to growth markets internationally, albeit partially offset by any weakness in foreign currencies."
"AMT is trading at a P/AFFO of 18x for 2012. This compares to large cap REITs at P/AFFO of 21x and peer towers at P/AFFO of 15x. We believe a premium to peer tower group is deserved given the attractive and growing international footprint."
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 $60.01 yesterday.
Wedbush analyst said, "We view the REIT conversion as adding gravy to a hearty growth story. We expect additional upside post conversion and see continued benefit from domestic 4G overlay and exposure to growth markets internationally, albeit partially offset by any weakness in foreign currencies."
"AMT is trading at a P/AFFO of 18x for 2012. This compares to large cap REITs at P/AFFO of 21x and peer towers at P/AFFO of 15x. We believe a premium to peer tower group is deserved given the attractive and growing international footprint."
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 $60.01 yesterday.
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