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Stock impact report

U.S. tower stock valuations refreshed at MoffettNathanson [Yahoo! Finance]

American Tower Corporation (REIT) (AMT) 
Last american tower corporation (reit) earnings: 4/29 07:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
The firm maintained Buy ratings on American Tower (NYSE:AMT), Crown Castle (NYSE:CCI), and SBA Communications (NASDAQ:SBAC) but stopped short of calling them "pound-the-table longs" after recent outperformance. "After substantial underperformance over the last several years, tower equities have meaningfully outperformed the market for the first time in a while," analysts noted. Year-to-date, AMT and CCI have beaten the S&P 500 by 20 percentage points, while SBAC has outperformed by 12 points. The firm notes that the rally has been fueled in part by a rotation into defensive names amid market volatility. The Crown Castle Fiber sale was said to be another key development. The $8.5 billion sale price, though about half of the company's total investment in the assets, was "reasonably in line with expectations," analysts said. The transaction allows CCI to become a pure-play U.S. tower company, justifying its higher valuation multiple. Following valuation adjustments, the firm Show less Read more
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