Barclays upgraded American Tower (AMT) to Overweight from Equal Weight. The firm raised its price target to $198 from $195. Analysts highlighted tower sector valuations at a decade low as a primary driver for the rating change.
Barclays identified AT&T’s 2027 deployment pace as a significant factor for domestic revenue. Exposure in Europe and Africa is expected to drive above-peer growth in 2026 and 2027.
The upgrade follows strong second-quarter results. American Tower recently raised its full-year outlook based on that performance.