UBS Maintains a 'Buy' on American Tower (AMT); Continued Growth with Upside in 2H
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Price: $172.90 -0.26%
Rating Summary:
26 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
26 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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UBS maintains a 'Buy' on American Tower (NYSE: AMT) price target raised from $69 to $72.
UBS analyst says, "AMT reported strong results coming at the high-end of guidance. Core rental rev grew 23.0%, excluding impact from FX, straight-line and one-time items. Mgmt suggested total organic growth was ~9%, in line with the recent trend while int’l organic growth slightly accelerated to 11%. Core EBITDA grew 18.2%, yielding 65.6% margins, down 110 bps yoy due to higher int’l mix (27% of topline)."
"We made minor changes to our 2012 model. We expect rental revenues to grow 13.5% to $2.71B while EBITDA grows 11.8% to $1.78B. We look for 8.8% growth in AFFO, reaching $1.16B, or $2.95 per share, after $545M is spent on capex (20% of sales)." (UBS raises FY12 EPS estimate from $1.29 to $1.78 and FY13 from $1.54 to $2.17)
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 $63.91 yesterday.
UBS analyst says, "AMT reported strong results coming at the high-end of guidance. Core rental rev grew 23.0%, excluding impact from FX, straight-line and one-time items. Mgmt suggested total organic growth was ~9%, in line with the recent trend while int’l organic growth slightly accelerated to 11%. Core EBITDA grew 18.2%, yielding 65.6% margins, down 110 bps yoy due to higher int’l mix (27% of topline)."
"We made minor changes to our 2012 model. We expect rental revenues to grow 13.5% to $2.71B while EBITDA grows 11.8% to $1.78B. We look for 8.8% growth in AFFO, reaching $1.16B, or $2.95 per share, after $545M is spent on capex (20% of sales)." (UBS raises FY12 EPS estimate from $1.29 to $1.78 and FY13 from $1.54 to $2.17)
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 $63.91 yesterday.
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