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UPDATE: Morgan Stanley Downgrades American Tower Corp

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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
Dec 2018Morgan StanleyDowngradesOverweightEqual-Weight
Nov 2018Wells FargoMaintainsOutperformOutperform
Nov 2018Deutsche BankDowngradesBuyHold

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

 

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