Goldman Sachs assumed coverage of American Tower with a Buy rating and $215 price target. American Tower is viewed as the leading global tower operator and, because of its diversified portfolio across the U.S., Europe, emerging markets and its rapidly growing data center business, the analyst tells investors in a research note. It is expected to deliver the most consistent growth among tower companies, with mid- to high-single-digit AFFO per share growth supported by stable leasing, international expansion, data center momentum, cost efficiencies, and improved financial flexibility following resolution of the EchoStar dispute and leverage returning to target levels, the firm says.
