Cowen & Co. Reaffirms Their Buy Rating on American Tower Corp

By Ryan Adsit

Cowen & Co. analyst Colby Synesael reiterated a Buy rating on American Tower Corp (NYSE: AMT) yesterday and set a price target of $161. The company’s shares opened today at $147.67.

According to TipRanks.com, Synesael is a 5-star analyst with an average return of 17.2% and a 81.5% success rate. Synesael covers the Technology sector, focusing on stocks such as Interxion Holding NV, Zayo Group Holdings, and Crown Castle.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for American Tower Corp with a $162.86 average price target, representing a 10.3% upside. In a report issued on July 19, SunTrust Robinson also reiterated a Buy rating on the stock with a $167 price target.

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American Tower Corp’s market cap is currently $65.46B and has a P/E ratio of 56.37. The company has a Price to Book ratio of 10.33.

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American Tower Corp. is a real estate investment trusts, which owns, operates, and develops multitenant communications real estate. It operates through the following segments: U.S. Property; Asia Property; Europe, Middle East and Africa (EMEA) Property; Latin America Property; and Services. The U.S. Property segment operates in the United States.