American Tower price target raised to $250 from $246 at Barclays

Barclays raised the firm’s price target on American Tower (AMT) to $250 from $246 and keeps an Overweight rating on the shares. The tower stocks have been under pressure since the Q2 results, which were generally positive but faced high expectations and crowded positioning, the analyst tells investors in a research note. The firm remains constructive on the sector, citing a steady spectrum deployment from customers and “recession resilience” should macro conditions deteriorate.