Crown Castle price target lowered to $119 from $121 at Barclays

Barclays lowered the firm’s price target on Crown Castle (CCI) to $119 from $121 and keeps an Overweight rating on the shares. The tower stocks have been under pressure since the Q2 results, which were generally positive but faced high expectations and crowded positioning, the analyst tells investors in a research note. The firm remains constructive on the sector, citing a steady spectrum deployment from customers and “recession resilience” should macro conditions deteriorate.