Benchmark Upgrades Crown Castle (CCI) to Buy; Better-Than-Expected Cash Flow Outlook
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Benchmark upgrades Crown Castle (NYSE: CCI) from Hold to Buy. Price target increased from $32 to $37.
Benchmark analyst says, "We upgrade Crown Castle (CCI) to Buy on a better-than-expected cash flow outlook and improved credit cost. Crown Castle reported strong 3Q09 results and provided better-than-expected 2010 guidance. We revise our model to reflect the higher OIBDA cash flow and lower interest expense as debt markets have loosened materially. Our new 2010 estimated free cash flow per share is $1.85, up from $1.62."
To see more analyst ratings on CCI Click Here.
Crown Castle International Corp., through its subsidiaries, engages in the ownership, operation, and leasing of towers and other communications structures primarily in the United States and internationally.
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