Bank of America Securities analyst Alexander Waters has reiterated their bullish stance on AMT stock, giving a Buy rating today.
Alexander Waters has given his Buy rating due to a combination of factors that highlight American Tower’s strong financial performance and strategic positioning. The company’s first-quarter results surpassed expectations, driven by robust revenue from Latin America and stronger-than-anticipated services revenue. This positive performance is complemented by a solid services business, which is projected to continue its upward trajectory, with management forecasting significant revenue contributions in the coming years.
Additionally, American Tower’s data center demand remains strong, with notable year-over-year revenue growth and a healthy sales pipeline. The company’s international tower operations are performing as expected, and its strategic focus on balancing leverage, dividend growth, and share buybacks further supports its financial stability. The Buy rating is also reinforced by American Tower’s peer-leading growth in adjusted funds from operations per share, its international market exposure, and its ability to mitigate domestic carrier moderation risks through its comprehensive Master Lease Agreement structure.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $260.00 price target.
Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AMT in relation to earlier this year.