KeyBanc analyst Brandon Nispel raised the firm’s price target on Crown Castle (CCI) to $105 from $98 and keeps an Overweight rating on the shares as Q1 beat expectations. Looking forward, the firm continues to see Crown Castle positioned favorably as a pure U.S. Tower Company in front of major spectrum auctions with limited/no risk and possible opportunity from Satellite. Further, cost-cutting and share repurchases should allow for strong AFFO/share growth, KeyBanc adds.
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- Crown Castle: Strong Operating Beat and Fiber Divestiture Drive Focused U.S. Tower Strategy and Justify Buy Rating
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