Market Overview

UPDATE: Morgan Stanley Downgrades American Tower Corp

Share:
Related AMT
Why You Should Hold American Tower (AMT) Stock Amid Risks
Forget Rate Hike, Bet on These 6 REIT ETFs to Scoop Up Gains

In a note published Wednesday morning, Morgan Stanley analyst Simon Flannery downgraded shares of American Tower Corp (NYSE: AMT) from Overweight to Equal-weight with a $98 price target.

Flannery noted that American Tower has outperformed peers Crown Castle International and SBA Communications year to date at +24 percent versus +8 and +23 percent, respectively. At this level, Flannery sees American Tower as being fairly valued.

Looking for growth, Flannery believes the company could benefit from expansion into emerging markets but acknowledges risks include a smaller wireless market, a lack of zoning and volatility.

Alternatively, Morgan Stanley currently rates both Crown Castle and SBA Communications at Overweight.

Latest Ratings for AMT

DateFirmActionFromTo
Jun 2017Raymond JamesDowngradesStrong BuyOutperform
Apr 2017GuggenheimUpgradesNeutralBuy
Dec 2016GuggenheimInitiates Coverage OnNeutral

View More Analyst Ratings for AMT
View the Latest Analyst Ratings

Posted-In: Morgan Stanley Simon FlanneryAnalyst Color News Downgrades Price Target Reiteration Analyst Ratings

 

Related Articles (AMT + CCI)

View Comments and Join the Discussion!