Goldman Sachs assumes coverage of AMT with a Buy rating, citing diversification and data center growth potential.
Goldman Sachs initiated coverage on American Tower Corporation (AMT) with a Buy rating and a $215 price target, highlighting its leadership in global tower assets and growth prospects. The firm noted AMT’s diversified revenue base and accelerating data center business as key drivers for high single-digit AFFO growth.
American Tower recently resolved a contract dispute with Echostar, which removed an estimated 2% of consolidated property revenue from its 2026 outlook. Despite this, the firm remains optimistic about AMT’s growth, supported by international market expansion and cost-efficiency improvements.
Goldman Sachs emphasized AMT’s leverage ratio of 4.9x as of 1Q26, now within the company’s target range of 3-5x, providing capital allocation flexibility. The firm views AMT as the best-positioned stock in the US tower sector due to its exposure to AI-driven demand and data center operations.