Benchmark Raises Price Target on Crown Castle (CCI); Improving Lease-Up and S&P Inclusion

Benchmark maintains a 'Buy' on Crown Castle (NYSE: CCI) price target raised from $54 to $63.

Analyst, Clayton F. Moran, said, "Wireless tower leasing activity is ramping with the four largest domestic carriers actively building networks for the first time in years. Crown Castle is well positioned to benefit with 94% of revenue from the US and heavy exposure to Sprint (NYSE: S). CCI also remains discounted relative to tower peer American Tower (NYSE: AMT). CCI is being added to the S&P 500 Index, which likely drives money flow to the stock. We are bullish on CCI and raise our price target."

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 $54.43 yesterday.

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