BTIG analyst, Walter Piecyk, reiterates a Buy rating for American Tower Corp (NYSE:AMT) and issues a $140 price target following a new evaluation of the company.

The analyst has increased his 2016 estimates based mainly on international growth and the rally in the Brazilian Real versus the U.S. Dollar. The analyst explains, “We remain optimistic about AT&T’s investments in Mexico and, while TIM Brasil could pull back its investment, we continue to expect cell site expansion by wireless operators in Brazil. Our lower margin estimates reflect the impact of the inclusion of the Viom acquisition in our model.”

The analyst issues a price target of $140 for the stock.

According to TipRanks, Piecyk is ranked #810 of 4,064 analysts.