Crown Castle upgraded to Outperform from Market Perform at BMO Capital

BMO Capital upgraded Crown Castle (CCI) to Outperform from Market Perform with a price target of $120, up from $115. The company has “done the heavy lifting” with the sale of its fiber business, the analyst tells investors in a research note. The firm says that while the deal ma not close until mid-2026, the stock’s risk/reward is favorable. BMO believes Crown Castle shares will continue to re-rate as a U.S. tower pure-play with the fiber sale supporting share buybacks and the new CEO appointment removing an overhang.