Market Overview

UPDATE: Morgan Stanley Reiterates Overweight Rating, Raises PT on Crown Castle International Corp.

Share:
Related CCI
Crown Castle Proposed $5.5 Billion Senior Unsecured Credit Facility
Citi: Opportunity Is Knocking On These Three Telecoms

In a report published Wednesday, Morgan Stanley reiterated its Overweight rating on Crown Castle International Corp. (NYSE: CCI), and raised its price target from $65.00 to $75.00.

Morgan Stanley noted, “We are rolling over the multiples from 2013E to 2014E. Our favorite pick continues to be SBA Communications, given the opportunistic use of cheap financing to grow its tower portfolio and earnings. Our estimates have also been updated to reflect American Tower's acquisition of KPN Towers in Germany and tower builds in India; and Crown Castle's recent refinancing activity.”

Crown Castle International Corp. closed on Tuesday at $71.26.

Latest Ratings for CCI

DateFirmActionFromTo
Oct 2015JefferiesMaintainsBuy
Aug 2015Stifel NicolausAssumesBuy
Jul 2015MacquarieMaintainsOutperform

View More Analyst Ratings for CCI
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Price Target Analyst Ratings

 

Related Articles (CCI)

View Comments and Join the Discussion!

Get Benzinga's Newsletters