American Tower Corp

AMT: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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American Tower Earnings: A Resurgence in US Carrier Activity Drives Shares; Raising Valuation

Samuel Siampaus

Feb 25, 2025

Shares of American Tower traded higher after its fourth-quarter earnings release, as US carrier activity points to improvements in spending over the last year. Additionally, data centers continue to be a valuable source of growth as enterprises rush to secure new capacity. We raise our fair value estimate to $237 from $230 for narrow-moat American Tower to account for the time value.

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American Tower Corp

American Tower Earnings: A Resurgence in US Carrier Activity Drives Shares; Raising Valuation

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