BTIG Downgrades Crown Castle (CCI) to Neutral

BTIG downgraded Crown Castle (NYSE: CCI) from Buy to Neutral. Analyst Walter Piecyk said the downgrade was based primarily based on valuation.

"We are also concerned that the push back from local communities limits the pace of small cell deployment throughout the industry. In addition, the impact of unit growth from small cells which command lower rents, limits Crown’s ability to ramp revenue growth this year. While our downgrade comes only a few days before the company reports, it is not based on an expectation of material under-performance in Q2," said Piecyk.

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 $99.39 yesterday.

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