American Tower

AMT · NYSE

$183.56+$0.53 (+0.29%)TodayMarket closed · Oct 20, 7:55 PM ET

Prev close $183.03

AMT analyst rating

BuyConsensus of 17 analysts over the last 12 months. 88% rate it a buy.

Strong buy1
Buy14
Hold2
Underperform0
Sell0

12-month price target · 24 analysts

Average $218.86 (+19.2% upside)

Low: $189.88
Now: $183.56
High: $273.00

Upgrades and downgrades

The latest rating actions, newest first

AMT analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Bernstein	Oct 20, 2026	Maintains	Outperform	$214.00 → $212.00	50%
Barclays	Sep 30, 2026	Maintains	Overweight	$198.00 → $199.00	32%
Barclays	Aug 20, 2026	Upgrade	Equal-Weight → Overweight	$195.00 → $198.00	32%
Truist Securities	Aug 12, 2026	Maintains	Buy	$208.00 → $207.00	58%
TD Cowen	Jul 29, 2026	Maintains	Buy	$225.00 → $227.00	41%
BMO Capital	Jul 29, 2026	Maintains	Market Perform	$190.00 → $195.00	50%
Wolfe Research	Jul 9, 2026	Upgrade	Peer Perform → Outperform	$188.00	36%
Goldman Sachs	Jun 26, 2026	Initiates	Buy	$215.00	68%
RBC Capital	Jun 26, 2026	Upgrade	Sector Perform → Outperform	$195.00 → $205.00	39%
Bernstein	May 19, 2026	Upgrade	Market Perform → Outperform	$207.00	50%

The case for and against

Updated Oct 14, 2026

Bull case

American Tower is supported by a high-quality, globally diversified tower portfolio of about 150,000 sites and a valuable CoreSite data center platform that adds underappreciated exposure to AI, cloud, and digital transformation demand. Its outlook is strengthened by improving AFFO per share growth, with estimates rising from about +3% in the current year to roughly +5% in 2027E and +7% in 2028E, while leverage remains below 5x and buybacks may increase. Despite customer concentration and some near-term churn in the US and Latin America, strong developed-market exposure, Europe buildout opportunities, and CoreSite’s growth reinforce durable cash flow and long-term organic expansion.

Bear case

American Tower is facing a softer near-term fundamental backdrop as U.S./Canada OTBG fell to 5.7% gross and 0.6% net in 1Q26 from 6.5% gross and 5.6% net in 4Q25, with DISH churn masking otherwise stable tower demand. International results are more fragile, with LatAm net OTBG at -2.0% and elevated churn in Brazil, while F/X volatility and M&A-related churn in Africa and LatAm add earnings uncertainty. Although CoreSite grew about 18% in 1Q26 and 2026 debt refinancings are expected to create an approximately 100 basis point headwind to attributable AFFO/share growth, concentration among top carriers, potential U.S. wireless capex declines, and satellite-related risks support a cautious outlook.

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