American Tower lifts outlook shares rise
Post on: 2011-11-02 By: admin
WASHINGTON (MarketWatch) -- Shares of American Tower Corp.
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rose more than 2% Tuesday, coming close to a 52-week high, after the cell-tower operator raised its financial outlook for the year. The Boston-based company said earnings before interest, taxes, depreciation, and amortization will now be about $20 million higher than originally expected for 2011, totaling about $1.59 billion. Analysts surveyed by FactSet Research were looking for Ebitda of $1.57 billion. The company added it was on track to convert to a real estate investment trust entity by Jan. 1. Shares of American Tower climbed as high as $56.98 on Tuesday, coming close to its full-year high of $57.28. The stock was one of the few gainers, with the benchmark Standard & Poor's 500 Index
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American Tower Corp. Cl A
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Article original from: http://www.marketwatch.com/news/story/american-tower-lifts-outlook-shares/story.aspx?guid=%7B7DE1454F%2DA64E%2D43D7%2D912C%2DF3360AECC07F%7D&siteid=rss
