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American Tower (AMT -4.5%) is diving on a downgrade to Neutral from Citi. The firm cites a high...

American Tower (AMT -4.5%) is diving on a downgrade to Neutral from Citi. The firm cites a high valuation following a strong run-up over the last 12 months, and a lack of "meaningful upside" to Street estimates. Other wireless tower owners are lower in sympathy. SBAC -2%. CCI -2.7%.
Comments (1)
  • dankourny
    , contributor
    Comments (22) | Send Message
     
    In an overal market environment that is less certain, the consistency of AMT's annuity stream rental revenues and growing dividend overtime as NOLs runoff and payout increases under new status as REIT, I don't think that "meaningful upside" to estimates is necessary for the stock to continue working higher. Sell-off today seems rather overdone.
    18 Jul 2012, 02:51 PM Reply Like
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