UPDATE: Benchmark Raises Crown Castle's PT

According to a research report published earlier today, Benchmark has increased Crown Castle International Corp.'s

PT from $54 to $63. Benchmark commented in the report, “Wireless tower leasing activity is ramping with the four largest domestic carriers actively building networks for the first time in years. Crown Castle (

) is well-positioned to benefit with 94% of revenue from the US and heavy exposure to Sprint. CCI also remains discounted relative to tower peer American Tower (

). CCI is being added to the S&P 500 Index, which likely drives money flow to the stock.” Benchmark maintains its Buy rating on Crown Castle, which is currently trading at $55.39.