American Tower Corporation (NYSE: AMT) is identified as one of Goldman Sachs’ top REIT stock picks. On July 2, Mizuho raised its price target on American Tower to $217 from $204, maintaining an “Outperform” rating based on the company’s strong growth outlook. Mizuho cites stable revenue base and portfolio expansion as key drivers of growth, with first-quarter 2025 performance showing operational strength. Adjusted Funds From Operations (AFFO) estimates for 2025 and 2026 have been revised upward to $10.53 and $11.43, respectively. American Tower owns and operates over 148,000 wireless communication sites globally, with a growing presence in U.S. data centers. Mizuho predicts approximately 5% organic growth in tenant billings for the entire portfolio, with U.S. and Canadian operations expected to grow around 4.3%. Despite the potential of AMT as an investment, certain AI stocks may offer greater upside potential and less downside risk. Mizuho suggests a free report on the best short-term AI stock for those interested.
Read more at Yahoo Finance: Mizuho Increases American Tower (AMT) Price Target to $217, Affirms “Outperform”