Benchmark Raises PT on American Tower to $65 (AMT)

Benchmark is out with its report today on American Tower AMT, raising its PT from $55 to $65. In a note to clients, Benchmark writes, "An enhanced focus around wireless spectrum could accelerate tower demand via new networks. Tower valuation remains within the historical range with support from American Tower's planed conversion to a REIT next year. We raise our AMT price target $10 to $65 per share. Our rating is Buy." Shares of AMT closed Monday at $56.01.