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A recent AT&T lawsuit against American Tower Corp. should not significantly impact the relationship between the carrier and infrastructure giant, according to industry analysts.

Wells Fargo analysts wrote in a research note this week that the complaint, filed by the carrier earlier this month, essentially asks the court to interpret contract language.

The dispute concerns the inclusion of pre-payment sites in fees under the companies' "holistic agreement." The analysis suggests that the number of sites in question is small, and also notes that AT&T is not seek punitive damages in its filing.

"Our sense is this has been a point of discussion between the two [companies] for an extended period of time," Wells Fargo analysts wrote.

The analysts added that AT&T is moving toward acquiring more property as it builds out its FirstNet public safety network, which should bode well for its business with American Tower and other infrastructure companies.

"We do not believe this legal issue will impact the broader activity levels we expect to see between AT&T and AMT (or its tower peers)," the note said.

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