Short Term Price Target on American Tower Corporation (REIT) (AMT)

American Tower Corporation (REIT) (NYSE:AMT) : 13 Wall Street analysts covering American Tower Corporation (REIT) (NYSE:AMT) believe that the average level the stock could reach for the short term is $119.54. The maximum price target given is $135 and the minimum target for short term is around $110, hence the standard deviation is calculated at $7.86.

Shares of American Tower Corporation rose by 1.92% in the last five trading days and 8.25% for the last 4 weeks. American Tower Corporation is up 9.79% in the last 3-month period. Year-to-Date the stock performance stands at 18.34%. Also, Equity Analysts at the Citigroup maintains the rating on American Tower Corporation (REIT) (NYSE:AMT). The brokerage firm has issued a Buy rating on the shares. The Analysts at the ratings agency raises the price target from $108 per share to $121 per share. The rating by the firm was issued on June 16, 2016.

American Tower Corporation (REIT) (NYSE:AMT) has an average broker rating of 1.27, which is interpreted as a Strong Buy, as rated by 15 equity analysts. Nonetheless, 12 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 2 other analysts advise a Buy. Nevertheless, the majority of 1 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.

American Tower Corporation (REIT) (NYSE:AMT): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $113.22 and $111.74 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $113.63. The buying momentum continued till the end and the stock did not give up its gains. It closed at $113.61, notching a gain of 0.54% for the day. The total traded volume was 3,217,135 . The stock had closed at $113.00 on the previous day.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (EVP, Chief Admin Ofr, GC & Sec) of American Tower Corp /Ma/, Disanto Edmund had sold 41,875 shares worth of $4,562,281 in a transaction dated June 10, 2016. In this transaction, 41,875 shares were sold at $108.95 per share.

American Tower Corporation is an independent owner, operator and developer of communications real estate. The Company is engaged in the leasing of space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies, and municipalities and tenants in a number of other industries. It has a portfolio of over 87,000 communications sites. The Companys continuing operations are managed through three segments: Domestic Rental and Management, which includes its property interests that it leases to communications service providers and third-party tower operators in the United States; International Rental and Management, which includes its interests in international communications sites, and Network Development Services, which offers tower-related services domestically, including site acquisition, zoning and permitting services and structural analysis services.

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