UBS Maintains a 'Buy' on Crown Castle (CCI); Raising Estimates as Leasing Activity Continues Higher
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Price: $73.72 +0.46%
Rating Summary:
12 Buy, 4 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
12 Buy, 4 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade CCI Now!
UBS maintains a 'Buy' on Crown Castle (NYSE: CCI) price target raised from $59 to $63.
Analyst, Batya Levi, said, "Management increased 2012 outlook by 0.9% for revenues and 2.6% for EBITDA (excl. WCP/NextG) driven by strong activity from Verizon (NYSE: VZ), AT&T (NYSE: T), and Sprint (NYSE: S). CCI mentioned application activity was also strong, boding well for 2H. Separately, Clearwire (Nasdaq: CLWR) on its earnings call suggested that tower rentals will increase slightly in 2H12 and is on track to launch 5K LTE sites by mid-13."
UBS raises FY13 from $1.30 to $1.47, raising 2012 site rental revenue estimate to $2.06B (prior est. $1.96B).
For an analyst ratings summary and ratings history on Crown Castle click here. For more ratings news on Crown Castle click here.
Shares of Crown Castle closed at $56.26 yesterday, with a 52 week range of $37.53-$57.78.
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Analyst, Batya Levi, said, "Management increased 2012 outlook by 0.9% for revenues and 2.6% for EBITDA (excl. WCP/NextG) driven by strong activity from Verizon (NYSE: VZ), AT&T (NYSE: T), and Sprint (NYSE: S). CCI mentioned application activity was also strong, boding well for 2H. Separately, Clearwire (Nasdaq: CLWR) on its earnings call suggested that tower rentals will increase slightly in 2H12 and is on track to launch 5K LTE sites by mid-13."
UBS raises FY13 from $1.30 to $1.47, raising 2012 site rental revenue estimate to $2.06B (prior est. $1.96B).
For an analyst ratings summary and ratings history on Crown Castle click here. For more ratings news on Crown Castle click here.
Shares of Crown Castle closed at $56.26 yesterday, with a 52 week range of $37.53-$57.78.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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