Morgan Stanley Reiterates a Buy Rating on American Tower Corp

By Austin Angelo

In a report released today, Simon Flannery from Morgan Stanley reiterated a Buy rating on American Tower Corp (NYSE: AMT), with a price target of $172. The company’s shares opened today at $150.05, close to its 52-week high of $155.28.

According to TipRanks.com, Flannery is a 4-star analyst with an average return of 5.3% and a 65.6% success rate. Flannery covers the Technology sector, focusing on stocks such as Frontier Communications Corporation, Telephone & Data Systems Inc, and Endurance International.

Currently, the analyst consensus on American Tower Corp is Strong Buy and the average price target is $161.27, representing a 7.5% upside.

In a report issued on October 31, Oppenheimer also reiterated a Buy rating on the stock with a $155 price target.

Based on American Tower Corp’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $1.68 billion and quarterly net profit of $317 million. In comparison, last year the company earned revenue of $1.51 billion and had a net profit of $265 million.

Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is neutral on the stock. Most recently, in August 2017, Amit Sharma, the EVP, Asia of AMT bought 32,500 shares for a total of $1,225,250.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

American Tower Corp. engages in leasing of space on communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a number of other industries. It operates through the following segments: U.S.