American Tower: Goldman Upgrades to Buy

American Tower (AMT) shares are on the rise after Goldman Sachs analyst Jason Armstrong upped his rating on the cellular tower operator to Buy from Neutral, adding the stock to the firm’s Conviction List with a $53 price target.

In a research note, Armstrong points out that the stock lately has been under significant pressure as tower stocks have underperformed due to “leverage characteristics and perceived risks around ownership concentrations.” Armstrong notes that AMT replaces rival Crown Castle (CCI) on Goldman’s Conviction List; while CCI remains Buy rated, he writes that his preference is for “the defensive balance sheet name” in AMT.

Read the rest of this post


Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »