Deutsche Bank Raises Price Target on Tower Stocks (AMT) (CCI) (SBAC)

April 11, 2012 10:34 AM EDT
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Price: $103.45 --0%

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Deutsche Bank raised thier price target on all 3 public tower companies Wednesday. "With all 3 public tower companies expected to report AFFO with 1Q results, we are formally updating our price target methodology so that it is primarily based on this common REIT metric," analyst Brett Feldman states. "This is a conservative approach as tower operators are (1) growing much faster than REITs and (2) less cyclical than REITs as demand for tower space is primarily driven by trends in wireless data traffic and not broader trends in the economy (still soft)."

American Tower Corp. (NYSE: AMT) Buy, tgt $73 to $74,
Crown Castle (NYSE: CCI) - Buy, tgt $56 to $69,
SBA Communications (Nasdaq: SBAC)- Buy, tgt $62 to $67

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