RBC Lowers American Tower Price Target to $230.00

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Royal Bank of Canada recently revised their price target for American Tower ($NYSE:AMT) Corporation, a leading global owner and operator of wireless and broadcast communications real estate, to $230.00. This news was reported by Defense World. Through its portfolio of towers, rooftop sites, and distributed antenna systems, American Tower offers a wide range of services to its customers, including site acquisition, leasing, construction, financing, and marketing.

The reduced price target comes at an interesting time for American Tower Corporation as it adjusts to the evolving dynamics of the wireless and broadcast communications industry. Despite the reduced price target, Royal Bank of Canada remains optimistic about American Tower’s prospects in the long-term.

Share Price

The stock opened at $184.2 that morning and closed at $184.8, down by 0.5% from the last closing price of 185.8. This news had a significant impact on the stock price of American Tower, as investors reacted to the revised price target. It is likely that the company’s stock will remain volatile until there is further clarity on the market’s sentiment towards American Tower. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for American Tower. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for American Tower. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for American Tower. More…

Key Ratios Snapshot

Some of the financial key ratios for American Tower are shown below. More…

Analysis

At GoodWhale, we conducted an analysis of AMERICAN TOWER‘s wellbeing. After assessing the company’s financial and business aspects, we rated AMERICAN TOWER as a medium risk investment. We have detected two risk warnings in their balance sheet, which are non-financial in nature. If you’re interested in learning more, we invite you to register with us and get an in-depth look at the situation. With GoodWhale’s comprehensive analysis, you can make a sound decision about AMERICAN TOWER as a potential investment. More…

Peers

The company owns and operates more than 40,000 wireless communication sites across the country. American Tower Corp’s main competitors are SBA Communications Corp, CyrusOne Inc, and Equinix Inc.

– SBA Communications Corp ($NASDAQ:SBAC)

SBA Communications Corporation is a holding company that operates as a real estate investment trust (REIT), which is engaged in the ownership and leasing of wireless communications infrastructure, including antenna sites, towers, other structures, and supporting assets.

As of December 31, 2020, the Company owned or operated approximately 40,000 communication sites in the United States, Brazil, Canada, Chile, Colombia, Germany, Guatemala, India, Mexico, Peru, South Africa, and Spain.

– CyrusOne Inc ($NASDAQ:EQIX)

Equinix is a company that provides data center and interconnection services to a variety of customers. Its market cap as of 2022 is 47.86B. The company has a variety of products and services that it offers to its customers, which include data center services, interconnection services, and a variety of other services.

Summary

American Tower, a leading independent owner, operator, and developer of multitenant communications real estate with operations in the United States, Mexico, Brazil, Chile, Peru, Colombia, Ghana, India, and South Africa, recently had its price target lowered by the Royal Bank of Canada (RBC). Analysts believe that the company’s growth potential has been hampered by the pandemic and a challenging macro environment. Investors should consider the potential upside offered by the stock versus the downside risks before making an investment decision in the company.