Array Digital Infrastructure initiated with an Outperform at RBC Capital

RBC Capital initiated coverage of Array Digital (AD) Infrastructure with an Outperform rating and $62 price target The firm says that post the divestiture of the UScellular wireless operations, Array Digital is a new tower-focused stock, with 100% of its operations U.S. tower related. RBC expects the company’s “attractive valuation” to be more apparent as the company divests non-core assets and executes on near-term colocation opportunities. The company is in a position to commence regular dividends after closing its pending spectrum transactions, the firm adds.