American Tower rises 2.5% on Strong Buy from Raymond James

|About: American Tower Corporation (AMT)|By:, SA News Editor

American Tower (NYSE:AMT) gained 2.5% as Raymond James upgraded shares to Strong Buy, from Outperform.

Rollout of wireless companies' new spectrum should restart revenue growth in 2016, RJ's Ric Prentiss says, pointing to "second-half 2015 and 2016 leasing trends" with T-Mobile deploying its low-band spectrum, Sprint expanding its high-band, and AT&T and Verizon "spending a steady amount of wireless capex."

It's a bit of a rebound for a stock that's down 8% from its November high.

The analysts set a slightly lower price target on the stock, to $112 from $114. Shares closed today at $96.46.

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