American Tower's International Presence Boosts Growth Above Peers: Analyst
Portfolio Pulse from Lekha Gupta
BMO Capital Markets analyst Ari Klein initiated coverage on American Tower Corp (NYSE:AMT) with an Outperform rating and a price target of $230. Klein projects AMT to grow in the mid-single-digit range in the long term due to customer stickiness, higher margins, long-term contracts, and lower capex. The company's international presence and non-cancellable lease agreements of $63 billion also contribute to its growth. AMT shares are currently trading lower by 0.50% at $194.44.
July 13, 2023 | 4:31 pm
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American Tower Corp (NYSE:AMT) is expected to grow in the mid-single-digit range in the long term, according to BMO Capital Markets analyst Ari Klein. The company's international presence and non-cancellable lease agreements of $63 billion are seen as growth drivers.
The positive outlook from BMO Capital Markets analyst Ari Klein, including an Outperform rating and a price target of $230, is likely to boost investor confidence in American Tower Corp. The company's projected growth, international presence, and non-cancellable lease agreements are seen as positive factors that could drive the stock price up in the short term.
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IMPORTANCE 80
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