Truist Financial Initiates American Tower Corporation (AMT) with Buy, Sees Long-Term Upside

American Tower Corporation (NYSE:AMT) is included among the 14 Safest Stocks with Highest Dividends.

Photo by Dan Dennis on Unsplash

On March 30, Truist Financial analyst Matthew Niknam initiated coverage of American Tower Corporation (NYSE:AMT) with a Buy rating. It set a $205 price target on the stock. The analyst said towers remain high-quality businesses with long-term upside, though the near-term path looks more challenging. He added that even with valuations near multi-year lows, the group lacks a clear catalyst for a re-rating, pointing to slower organic growth and ongoing pressure from interest rates.

During the Q4 2025 earnings call, CFO Rodney Smith outlined expectations for 2026. He said consolidated organic tenant billings growth is projected at around 1%, or about 4% when excluding DISH churn. In the US and Canada, he expects organic tenant billings growth of roughly 0.5%, or about 4.5% excluding DISH churn.

Across other regions, Smith said Africa and APAC are expected to deliver growth of about 8.5%, while Europe is projected at around 4%. Latin America, by contrast, is expected to decline by about 3%. He added that management is encouraged by the possibility of an earlier recovery in Brazil and sees potential for a pickup in organic growth heading into 2027.

American Tower Corporation (NYSE:AMT) is a global real estate investment trust and an independent owner, operator, and developer of multitenant communications real estate. It has a portfolio of nearly 150,000 communications sites and a network of interconnected data center facilities in the United States.

READ NEXT: Dividend Stock Portfolio for Income: 15 Stocks to Invest In and Dividend Capture Strategy: 14 High Yield Stocks to Buy in April

Disclosure: None. Follow Insider Monkey on Google News.