American Tower up 1%; Pacific Crest boosts target

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

American Tower (NYSE:AMT) is up 1% as Pacific Crest boosts its price target to $116, from $114.

Shares closed yesterday at $94.37 and are currently up to $95.32. Pacific Crest maintains an Overweight rating on the stock.

The analysts point to its $1.05B acquisition of 4,700 towers from Bharti Airtel in noting that international expansion is critical to American Tower's growth.

AMT expects international operations to increase organic core revenue 10%, Pacific Crest says.