Crown Castle (CCI) Tops Q2 AFFO by 16c, FY Guidance Falls Short
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Cowen Cuts Price Target on Crown Castle (CCI) Following 2Q15
July 24, 2015 7:53 AM EDTCowen reiterated an Outperform rating on Crown Castle (NYSE: CCI), and cut the price target to $91.00 (from $95.00), following 2Q15 results. Total revenue was $899.4MM vs. the Street's $932.7MM estimate. CCI raised its 2015 (mid-point) revenue outlook to $2.954B from $2.933B. AFFO per share was $1.03 vs. the Streets $1.06 estimate.
Analyst Colby Synesael commented, "Crown posted good 2Q15 results and raised revenue, EBITDA, and AFFO by 0.7%, 1.3%, and 1.0%... More
