Benchmark Maintains American Tower Buy

Benchmark maintained its American Tower AMT Buy rating in a research report published today. Benchmark has previously given American Tower a $60 price target. In the report, Benchmark states, "This morning, American Tower (AMT) reported results and provided guidance that was better than street expectations, due to acquisitions and favorable currency swings. The tower business remains solid with 8% y/y organic growth. The REIT conversion is scheduled for January 1, 2012." Shares of American Tower were trading at $51.79 at the time of posting, down 1.35% from Monday's market close.