Canaccord Genuity Starts Crown Castle (CCI) at Buy; Plans Will Help Incremental Demand
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Price: $95.44 -0.03%
Rating Summary:
8 Buy, 23 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
8 Buy, 23 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Canaccord Genuity initiates coverage on Crown Castle (NYSE: CCI) with a Buy. PT $61.00.
Analyst, Greg Miller, said, "With the largest tower portfolio in the US and highest percentage of sites in urban areas, CCI will likely benefit the most among the tower operators from the 4G deployment and continued cell-split to meet demand for surging mobile data traffic. Explicit plans by T-Mobile USA and improving funding status at Clearwire (Nasdaq: CLWR) will likely provide incremental demand. In addition, with the release of detailed FFO and AFFO results (and guidance), we expect CCI’s AFFO multiple to converge toward American Tower’s (NYSE: AMT), providing additional upside to the shares."
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 $53.58 yesterday.
Analyst, Greg Miller, said, "With the largest tower portfolio in the US and highest percentage of sites in urban areas, CCI will likely benefit the most among the tower operators from the 4G deployment and continued cell-split to meet demand for surging mobile data traffic. Explicit plans by T-Mobile USA and improving funding status at Clearwire (Nasdaq: CLWR) will likely provide incremental demand. In addition, with the release of detailed FFO and AFFO results (and guidance), we expect CCI’s AFFO multiple to converge toward American Tower’s (NYSE: AMT), providing additional upside to the shares."
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 $53.58 yesterday.
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