Movement Alert｜American Tower Rises 7.19% in Regular Trading, CoreSite Expands Oracle Cloud Connectivity and AFFO Guidance Raised

Market Focus10-09

On October 9, American Tower rose 7.19% in regular trading, trading at $178.86 per share with turnover of $4.06 billion. The move was driven by CoreSite's expansion of direct connectivity to Oracle Cloud Infrastructure across four US commercial OCI regions, reinforcing confidence in its data center interconnection growth.

The company has also raised its full-year AFFO guidance for two consecutive quarters, with the latest range of $11.00 to $11.17 per share exceeding the consensus estimate of $10.97. Multiple investment banks maintain buy or overweight ratings with an average target price above $215, providing additional upside support.

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