American Tower Corp Price Target Increased to $96.00 by Analysts at Canaccord Genuity (AMT)
Equities researchers at Canaccord Genuity boosted their target price on shares of American Tower Corp (NYSE:AMT) from $90.00 to $96.00 in a research report issued on Wednesday, Stock Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price objective would indicate a potential upside of 19.76% from the stock’s previous close.
American Tower Corp (NYSE:AMT) traded up 0.84% on Wednesday, hitting $80.83. 2,996,064 shares of the company’s stock traded hands. American Tower Corp has a 52 week low of $67.89 and a 52 week high of $85.26. The stock’s 50-day moving average is $81.77 and its 200-day moving average is $77.20. The company has a market cap of $31.899 billion and a price-to-earnings ratio of 54.53.
American Tower Corp (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.25 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.48 by $0.23. The company had revenue of $942.00 million for the quarter, compared to the consensus estimate of $920.19 million. Analysts expect that American Tower Corp will post $2.15 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on AMT. Analysts at Deutsche Bank reiterated a “buy” rating on shares of American Tower Corp in a research note on Monday. They now have a $100.00 price target on the stock, down previously from $105.00. Separately, analysts at Nomura reiterated a “buy” rating on shares of American Tower Corp in a research note on Monday, January 27th. Finally, analysts at Jefferies Group initiated coverage on shares of American Tower Corp in a research note on Thursday, December 19th. They set a “buy” rating and a $90.00 price target on the stock. Three research analysts have rated the stock with a sell rating, nineteen have given a buy rating and one has given a strong buy rating to the company. American Tower Corp presently has a consensus rating of “Buy” and an average price target of $91.50.
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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