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Fly News Breaks for June 7, 2019
AMT
Jun 7, 2019 | 06:11 EDT
UBS analyst Batya Levi downgraded American Tower to Neutral from Buy on valuation, saying that after a 50% rise in the stock price over the past year, shares now trade at about 24-times expected forward AFFO - 3 standard deviations above its long term average. The analyst also raised his price target on American Tower to $222 from $195 to reflect the run-up and remains positive on the company, noting that it is "well positioned" to benefit from the industry trends of higher data usage and greater carrier activity.
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