Stifel Nicolaus Increases American Tower Corp Price Target to $95.00 (AMT)
Investment analysts at Stifel Nicolaus raised their price target on shares of American Tower Corp (NYSE:AMT) from $90.00 to $95.00 in a note issued to investors on Friday, American Banking News reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 19.69% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital raised their price target on shares of American Tower Corp from $96.00 to $102.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Cowen and Company raised their price target on shares of American Tower Corp from $110.00 to $115.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of American Tower Corp from $90.00 to $95.00 in a research note to investors on Thursday. They now have an “overweight” rating on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. American Tower Corp has a consensus rating of “Buy” and a consensus target price of $90.53.
Shares of American Tower Corp (NYSE:AMT) opened at 79.37 on Friday. American Tower Corp has a 1-year low of $67.89 and a 1-year high of $85.26. The stock has a 50-day moving average of $75.90 and a 200-day moving average of $75.79. The company has a market cap of $31.351 billion and a P/E ratio of 49.59.
American Tower Corp (NYSE:AMT) last announced its earnings results on Wednesday, October 30th. The company reported $0.45 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.53 by $0.08. The company had revenue of $807.90 million for the quarter, compared to the consensus estimate of $822.04 million. During the same quarter in the prior year, the company posted $0.58 earnings per share. The company’s quarterly revenue was up 13.3% on a year-over-year basis. Analysts expect that American Tower Corp will post $1.70 EPS for the current fiscal year.
In other American Tower Corp news, EVP Edmund Disanto unloaded 25,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $80.99, for a total transaction of $2,024,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
American Tower Corporation is a holding company. The Company conducts its operations through its directly and indirectly owned subsidiaries and joint ventures.
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