Barclays raised the firm’s price target on Crown Castle (CCI) to $120 from $119 and keeps an Overweight rating on the shares. The firm views the 10%-15% contraction in tower shares since July highs as “misguided.” There should be no direct impact on Crown Castle from EchoStar until 2036, the analyst tells investors in a research note. Barclays believes current share levels offer investors an opportunity to gain exposure at a discount to historical valuations.
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:
- 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
- Strategic Shift and Leadership Change Bolster Crown Castle’s Buy Rating
- Crown Castle upgraded to Outperform from Market Perform at BMO Capital