KeyBanc analyst Brandon Nispel lowered the firm’s price target on Crown Castle (CCI) to $120 from $125 and keeps an Overweight rating on the shares. The firm is lowering its leasing/AFFO estimates due to churn from USM, lower leasing expectations from EchoStar (SATS)/Dish and near-term churn from EchoStar/Dish, and adjusting its individual Carrier leasing forecasts. Further complicating matters, SpaceX’s Starlink spectrum purchase likely increases debates of structural challenges, which KeyBanc doesn’t see.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CCI:
- Crown Castle Appoints Christian Hillabrant as CEO
- Crown Castle price target raised to $120 from $119 at Barclays
- EchoStar spectrum sale a negative for tower sector, says BMO Capital
- Rocket, Li Auto, Crown Castle, Palo Alto, Home Depot: Trending by Analysts
- Palo Alto upgraded, Li Auto downgraded: Wall Street’s top analyst calls