Crown Castle price target lowered to $90 from $105 at Wells Fargo

Wells Fargo analyst Eric Luebchow lowered the firm’s price target on Crown Castle (CCI) to $90 from $105 and keeps an Overweight rating on the shares. The firm believes a materially lower-than-expected organic growth outlook will weigh on the stock despite efforts on the cost-cutting front. Wells sees a tougher setup in the near-term until the market gains confidence back despite an attractive valuation for a pure-play U.S. tower.