Morgan Stanley Sticks to Their Buy Rating for American Tower (AMT)

Morgan Stanley analyst Cameron McVeigh maintained a Buy rating on American Tower today and set a price target of $220.00.

According to TipRanks, McVeigh is an analyst with an average return of -9.2% and a 47.83% success rate. McVeigh covers the Real Estate sector, focusing on stocks such as Equinix, Digital Realty, and American Tower.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for American Tower with a $211.00 average price target.

Based on American Tower’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.75 billion and a net profit of $867.5 million. In comparison, last year the company earned a revenue of $2.63 billion and had a net profit of $366.8 million

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AMT in relation to earlier this year. Last month, Rajesh Kalathur, a Director at AMT bought 2,829.00 shares for a total of $500,733.00.