JPMorgan analyst Richard Choe lowered the firm’s price target on American Tower (AMT) to $250 from $255 and keeps an Overweight rating on the shares. The company reported solid Q3 results and raised its outlook, but management noted on the earnings call that Dish Wireless delivered a notice “purporting to be excused from its contractual obligations to American Tower.” JPMorgan says EchoStar (SATS) continues to pay its leases and that American Tower will book revenue as long as the company reasonably expects to collect its rental payments. It sees the Dish notice weighing on tower stocks.
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