Piper Jaffray Maintains Overweight on American Tower

Piper Jaffray is out with its report today on American Tower AMT, maintaining Overweight. In a note to clients, Piper Jaffray writes, "Given the spirit of this past weekend, we thought it would be a good time to revisit our view on American (Tower). We continue to rate the stock Overweight with a $59 price target owing to favorable industry trends, high operating leverage, exposure to high growth international markets, capital flexibility, benefits from a REIT conversion and attractive valuation." Shares of AMT closed Wednesday at $53.74, up 0.28% from Tuesday's close.