Canaccord Genuity on Telecommunications: Favoring Tower Stocks - Momentum Likely to Continue
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Price: $175.80 +0.05%
Rating Summary:
32 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
32 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity on Telecommunications: Continue to Favor Tower Stocks - Momentum Likely to Continue
Analyst, Greg Miller, said, "We continue to recommend investors take advantage of the pullbacks in tower stocks American Tower (NYSE: AMT)(BUY, $72 target), Crown Castle (NYSE: CCI)(BUY, $63 target) and SBA Communications (Nasdaq: SBAC)(BUY, $60 target), with all three stocks having given back their gains since T-Mobile USA announced it would follow the balance of the industry with a nationwide 4G LTE build. We believe the deployment of 4G LTE nationwide by all four major carriers in addition to the continued upgrade activity of Sprint (NYSE: S) and T-MobileUSA will continue to benefit the three publicly traded tower companies over the next few years."
"Some remain concerned that wireless consolidation could result in disruptive activities similar to when AT&T (NYSE: T) announced it would merge with T-MobileUSA (albeit smaller scale). We do not believe there is significant risk to the towers from the increasingly speculated M&A activity. Given that a T-MoUSA – Sprint deal now appears highly unlikely and with minimal overlap for the others, we believe the risk to the tower stocks is minimal."
Analyst, Greg Miller, said, "We continue to recommend investors take advantage of the pullbacks in tower stocks American Tower (NYSE: AMT)(BUY, $72 target), Crown Castle (NYSE: CCI)(BUY, $63 target) and SBA Communications (Nasdaq: SBAC)(BUY, $60 target), with all three stocks having given back their gains since T-Mobile USA announced it would follow the balance of the industry with a nationwide 4G LTE build. We believe the deployment of 4G LTE nationwide by all four major carriers in addition to the continued upgrade activity of Sprint (NYSE: S) and T-MobileUSA will continue to benefit the three publicly traded tower companies over the next few years."
"Some remain concerned that wireless consolidation could result in disruptive activities similar to when AT&T (NYSE: T) announced it would merge with T-MobileUSA (albeit smaller scale). We do not believe there is significant risk to the towers from the increasingly speculated M&A activity. Given that a T-MoUSA – Sprint deal now appears highly unlikely and with minimal overlap for the others, we believe the risk to the tower stocks is minimal."
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