Goldman Sachs Suggests Buying Calls on American Tower Corporation (AMT)

Goldman Sachs is out with a research note this morning, where it suggests that traders buy upside calls on American Tower Corporation AMT ahead of earnings. Goldman Sachs Telco Analyst, Jason Armstrong, is bullish on the towers, and sees 31% upside to Buy rated AMT (12 month price target of $64) ahead of a strong year for wireless data and upcoming catalysts on the REIT conversion. Last week Goldman recommended buying the January 2012 $50/57.50 1x2 call spread for $1.30. This week, they suggest buying back the two short calls at $1.60 each and buying more of the January 2012 $50.00 call for $4.30. American Tower Corporation is a holding company. The company is a wireless and broadcast communications infrastructure company that develops, owns, and operates communications sites, including wireless communications towers, broadcast communications towers and distributed antenna system (DAS) networks.