Verizon Targets American Tower With Expensive Relocation Plan, Analysts Warn

1. RBC downgraded AMT from Outperform to Sector Perform, lowering price target to $220. 2. Carrier activity remains muted, impacting AMT’s leasing revenue outlook. 3. Verizon targets AMT with a high-rent relocation program before lease expiration. 4. T-Mobile is driving colocations, meeting FCC buildout requirements by Q1 2026. 5. Despite revenue increases, AMT's valuation reflects ongoing carrier spending constraints.