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American Tower Corp (NYSE:AMT) was downgraded by research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report released on Wednesday. They currently have a $98.00 price target on the stock, down from their previous price target of $101.00. Morgan Stanley’s price target suggests a potential downside of 0.79% from the company’s current price. The analysts noted that the move was a valuation call.

Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs initiated coverage on shares of American Tower Corp in a research note on Tuesday. They set a “buy” rating on the stock. Separately, analysts at Barclays raised their price target on shares of American Tower Corp from $104.00 to $109.00 in a research note on Wednesday, August 27th. They now have an “overweight” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of American Tower Corp from $105.00 to $108.00 in a research note on Friday, August 1st. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $104.33.

American Tower Corp (NYSE:AMT) traded down 0.69% during mid-day trading on Wednesday, hitting $98.0959. The stock had a trading volume of 1,020,330 shares. American Tower Corp has a 52-week low of $68.69 and a 52-week high of $99.90. The stock’s 50-day moving average is $95. and its 200-day moving average is $88.10. The company has a market cap of $38.860 billion and a P/E ratio of 55.49.

American Tower Corp (NYSE:AMT) last announced its earnings results on Wednesday, July 30th. The company reported $0.58 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.54 by $0.04. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $999.15 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. On average, analysts predict that American Tower Corp will post $2.26 earnings per share 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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