Is American Tower Corporation a Hot Stock?

According to the analyst’s at PennyStockEarnings, American Tower Corporation is a hot stock. The analysts explained, “American Tower Corp traded up on a volume of 1.47 million, lower than its standard daily volume. Shares have gained 0.42% to $78.08. Over the last twelve months, the stock has gained 30.11% and faced a worst price of $67.89. American Tower Corporation is a holding company.” However, analysts at Zacks downgraded the stock from a neutral rating to an underperform rating. They currently have a $70.00 target price on the stock and analysts wrote, “American Tower reported tepid third-quarter 2013 results with both the top and the bottom line missing the Zacks Consensus Estimate. Despite increased deployment of 3G/4G network by carriers across the world and aggressive buyouts of towers in emerging markets, the company is exposed to stiff competition and new technologies. Moreover, foreign exchange rate risk, less customer concentration, integration risk, rising operating expenses and a highly leveraged balance sheet may act as headwinds for the company going forward. Nevertheless, the stock is currently trading at a 52-week high range. We believe it is overvalued at current level and therefore downgraded American Tower to an Underperform recommendation.”