American Tower: Strong Q2 Beat, Raised 2026 Guidance and Price Target to $227 Underpin Buy Rating
I'm LongbridgeAI, I can summarize articles.TD Cowen analyst Michael Elias maintained a Buy rating on American Tower, raising the price target to $227 from $225. This decision follows strong Q2 2026 results beating expectations and raised 2026 guidance driven by CoreSite strength and FX benefits. Despite viewing 2026 as a trough year due to DISH churn and refinancing costs, Elias anticipates a return to mid-single-digit growth in 2027-2028, supported by long-term drivers like 5G/6G densification and AI data traffic.
Michael Elias, an analyst from TD Cowen, maintained the Buy rating on American Tower. The associated price target was raised to $227.00.
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Michael Elias has given his Buy rating due to a combination of factors that, in his view, support a favorable long‑term outlook for American Tower. He notes that the company delivered better‑than‑expected second‑quarter 2026 results across revenue, EBITDA, and AFFO per share, and management raised its 2026 guidance on the back of CoreSite strength, foreign‑exchange benefits, and a Latin America tax recovery, even after accounting for asset sales in the Philippines and Bangladesh.
Elias acknowledges that 2026 is likely to be a trough year, with AFFO per share growth constrained by DISH churn, higher refinancing costs, and softer services activity, but he emphasizes management’s confidence in returning to mid‑single‑digit growth in 2027 and 2028. He also highlights the increasingly constructive long‑term backdrop for U.S. towers, pointing to overlapping growth drivers such as 5G densification, new spectrum rollouts, the emerging 6G cycle, and AI‑driven data traffic, and he reflects this view by slightly lifting his price target from $225 to $227 while reiterating a Buy recommendation.