Jefferies lowered the firm’s price target on American Tower to $210 from $253 and keeps a Buy rating on the shares as part of a 2025 outlook. The firm believes we are in the “very early innings” of data center demand driven by artificial intelligence. It expects power limitations, supply chain bottlenecks on new construction, and continued increases in market rents. For the towers, domestic carrier capex investment in 5G has disappointed, the analyst tells investors in a research note. Jefferies’ top picks into 2025 are Digital Realty Trust (DLR) for data centers and American Tower (AMT) for towers.
Don't Miss Our New Year's Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMT:
- Ameren appoints American Tower CEO Steven Vondran to board
- American Tower price target lowered to $251 from $255 at Barclays
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
