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Fly News Breaks for July 10, 2018
AMT, SBAC
Jul 10, 2018 | 06:47 EDT
JPMorgan analyst Philip Cusick downgraded American Tower (AMT) to Neutral from Overweight and lowered his price target for the shares to $160 from $170. The analyst cites the recent rebound in the shares and a "somewhat slower ramp" to domestic carrier spending this year than he had expected for the downgrade. Another guidance increase unlikely, Cusick tells investors in a research note. He finds the stock "fully valued in the medium term" when factoring in domestic and India wireless mergers as well as currency weakness. Cusick continues to recommend SBA Communications (SBAC) as his favorite tower name.
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