Market Overview

UPDATE: Goldman Sachs Raises PT to $70 on Crown Castle International on Tower Deal

Share:
Related CCI
Stephen Mandel's Lone Pine Capital Loves Tech, Consumer Stocks
Morgan Stanley's Top 5 Telecom Service Stocks

Goldman Sachs reiterated its Neutral rating on Crown Castle International (NYSE: CCI) and raised its price target from $68 to $70.

Goldman Sachs noted, "CCI announced it closed the transaction to acquire exclusive rights to TMobile's approximately 7,100 towers for $2.4bn in cash. With the closing of the deal, we now include T-Mobile's portfolio in our CCI estimates and raise our 12-month price target to $70, from $68 previously. Our 2012-2014 EPS estimates are +0.0%/-9.6%/+1.1% due to higher interest/D&A expense initially, offset by increased revenue from the deal; more importantly, our AFFO forecasts increase modestly."

Crown Castle International closed at $67.47 on Monday.

Latest Ratings for CCI

DateFirmActionFromTo
Jan 2015BarclaysMaintainsEqual-weight
Jan 2015OppenheimerDowngradesOutperformPerform
Jan 2015Deutsche BankMaintainsNeutral

View More Analyst Ratings for CCI
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (CCI)

Around the Web, We're Loving...

Get Benzinga's Newsletters