Barclays Reiterates an 'Overweight' on Crown Castle (CCI); Results Indicate Strong Qtr for AMT & SBAC

Barclays reiterates an 'Overweight' on Crown Castle (NYSE: CCI) price target of $59.00.

Analyst, James M. Radcliffe, said, "We are revising our 2012E revenue and EBITDA estimates higher (by 3-4%) to reflect strong 1Q results at CCI. Even as CCI's 1Q results reflected the impact of the WCP acquisition and certain non-recurring items, which were not included in company guidance, the majority of the beat was driven by stronger than expected organic results, which gives us confidence that demand for towers remains strong. CCI's strong results also point to a strong 1Q for American Tower (NYSE: AMT) and SBA Communications (Nasdaq: SBAC)." (FY12 EPS estimate raised from $0.44 to $0.76 and FY13 from $0.76 to $0.87)

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 $56.61 yesterday.

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