Movement Alert｜American Tower Rises 6.37% in Pre-Market Trading on CoreSite Oracle Cloud Expansion and Raised AFFO Outlook

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On October 9, American Tower rose 6.37% in pre-market trading at $176.0851 per share, with turnover of $344,500.

The move follows CoreSite's expansion of direct private connectivity to Oracle Cloud, adding a fourth commercial OCI region in the US at its Silicon Valley campus, which strengthens the growth potential of the company's data center interconnection business.

Fundamentals remain supportive, as American Tower has raised its full-year AFFO guidance for two consecutive quarters to a range of $11.00 to $11.17 per share, above the consensus estimate of $10.97. Several investment banks maintain buy or overweight ratings with an average price target above $215, providing further upward momentum for the shares.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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