JPMorgan Lowers American Tower (AMT) Price Target to $250 Amid Dish Wireless Notice
American Tower Corporation (NYSE:AMT) is included among the 13 Most Undervalued Dividend Stocks to Buy According to Wall Street Analysts.
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American Tower Corporation (NYSE:AMT) owns, acquires, and develops communications real estate, such as cell towers and data centers, across both domestic and international markets. The company primarily generates revenue by leasing space on its properties to wireless carriers and enterprise clients.
On October 29, JPMorgan analyst Richard Choe lowered the price target on American Tower Corporation (NYSE:AMT) to $250 from $255 while maintaining an Overweight rating on the stock. The company posted strong Q3 results and raised its outlook, but management noted during the earnings call that Dish Wireless issued a notice “purporting to be excused from its contractual obligations to American Tower.”
JPMorgan highlighted that EchoStar (SATS) continues to meet its lease payments and that American Tower will record revenue as long as it reasonably expects to collect rent. The analyst added that the Dish notice could weigh on tower stocks.
Despite these challenges, American Tower Corporation (NYSE:AMT) remains one of the strongest dividend payers in the REIT sector, having increased its dividends for 16 consecutive years. The company offers a quarterly dividend of $1.70 per share and has a dividend yield of 3.8%, as of October 29.
While we acknowledge the potential of AMT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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