American Tower (AMT): New Buy Recommendation for This Technology Giant
Oppenheimer analyst Timothy Horan maintained a Buy rating on American Tower (AMT) today and set a price target of $290.00. The company’s shares closed last Thursday at $250.70.
According to TipRanks.com, Horan is a 5-star analyst with an average return of 18.6% and a 68.8% success rate. Horan covers the Technology sector, focusing on stocks such as Rackspace Technology, Lumen Technologies, and Digital Turbine.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for American Tower with a $277.60 average price target, implying a 9.7% upside from current levels. In a report issued on April 19, Barclays also maintained a Buy rating on the stock with a $292.00 price target.
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American Tower’s market cap is currently $112.1B and has a P/E ratio of 66.80. The company has a Price to Book ratio of -6.61.
Based on the recent corporate insider activity of 64 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. Last month, Pamela Reeve, a Director at AMT sold 3,653 shares for a total of $770,381.
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.
Founded in 1995, Massachusetts-based American Tower Corp. is one of the largest real estate investment trusts and is a leading independent owner and operator of wireless and broadcast communications infrastructure in several countries worldwide.