Citizens JMP analyst Greg Miller raised the firm’s price target on Crown Castle (CCI) to $125 from $115 and keeps an Outperform rating on the shares. Crown Castle reported “solid” Q1 results that appear consistent with the balance of the industry that is likely beginning to benefit from a slight reacceleration in leasing activity following the trough from lapping the majority of the 5G coverage overlay, the analyst tells investors in a research note. While Citizens believe operational challenges likely remain, the firm is confident in the strength of the new team and the underlying business strength.
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