JPMorgan lowered the firm’s price target on Crown Castle (CCI) to $115 from $121 and keeps a Neutral rating on the shares. The company is transforming into a pure-play U.S. macro tower company with the agreement to sell its fiber segment, the analyst tells investors in a research note. The firm estimates about $210M in savings from debt reduction, but says Crown Castles growth will be impacted by Sprint churn through 2034.
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Read More on CCI:
- Crown Castle’s Strategic Shift and Financial Challenges: Analyst Recommends Hold Amid Uncertainties
- Crown Castle upgraded to Equal Weight from Underweight at Wells Fargo
- Crown Castle upgraded to Peer Perform from Underperform at Wolfe Research
- Crown Castle price target raised to $113 from $104 at Barclays
- Crown Castle’s Earnings Call: Strategic Moves and Challenges
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