American Tower Corp Given New $100.00 Price Target at Canaccord Genuity (AMT)
Investment analysts at Canaccord Genuity raised their target price on shares of American Tower Corp (NYSE:AMT) from $96.00 to $100.00 in a note issued to investors on Friday, AnalystRatingsNetwork.com reports. Canaccord Genuity’s price target would suggest a potential upside of 14.94% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of American Tower Corp from an “underperform” rating to a “neutral” rating in a research note on Tuesday, March 4th. They now have a $86.00 price target on the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of American Tower Corp in a research note on Monday, February 24th. They now have a $100.00 price target on the stock, down previously from $105.00. Two analysts have rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $94.07.
Shares of American Tower Corp (NYSE:AMT) opened at 87.00 on Friday. American Tower Corp has a 52-week low of $67.89 and a 52-week high of $88.00. The stock’s 50-day moving average is $82.14 and its 200-day moving average is $80.47. The company has a market cap of $34.366 billion and a price-to-earnings ratio of 62.49.
American Tower Corp (NYSE:AMT) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.50 by $0.01. The company had revenue of $984.10 million for the quarter, compared to the consensus estimate of $968.18 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. The company’s quarterly revenue was up 22.6% on a year-over-year basis. Analysts expect that American Tower Corp will post $2.14 EPS for the current fiscal year.
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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