Wedbush Starts Crown Castle (CCI) at Neutral; Several Positives, But Prefer Peers (AMT & SBAC)

June 20, 2012 12:42 PM EDT
Get Alerts CCI Hot Sheet
Price: $86.82 +1.19%

Rating Summary:
    12 Buy, 11 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Wedbush initiates coverage on Crown Castle (NYSE: CCI) with a Neutral. PT $62.00.

Analyst, Suhail Chandry, said, "We expect CCI to benefit from LTE overlays and network build outs by carriers to meet challenges posed by surging mobile data. We view CCI's attractive tower locations with 71% in top 100 Basic Trading Areas (BTAs) and DAS (Distributed Antenna Systems) exposure positively. Despite our positive bias, we prefer SBA Comm (Nasdaq: SBAC) and American Tower (NYSE: AMT) over CCI based on relative valuation and concerns over CCI's static tower portfolio count."

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 $57.76 yesterday.

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