New Street upgraded Crown Castle (CCI) to Buy from Neutral. The company’s Q1 revenue and funds from operations beat estimates on better organic leasing and better services, the analyst tells investors in a research note. The firm thinks Crown Castle is “forecasting conservatively” and expects consensus estimates to rise. New Street has “provisionally” picked Crown Castle as its favorite tower stock and upgraded the shares to Buy. The stock is “cheap relative to peers,” the firm contends.
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