UPDATE: Citigroup Reiterates Neutral Rating, Raises PT on Crown Castle International Corp.
In a report published Wednesday, Citigroup reiterated its Neutral rating on Crown Castle International Corp. (NYSE: CCI), and raised its price target from $70.00 to $73.00.
Citigroup noted, “We rate Crown Castle International as Neutral (2). We believe that: 1) Colocation demand remains solid, however Crown is likely to experience a deceleration in revenue growth from the core business over the next few years; 2) The Australian tower portfolio should continue to produce strong top-line revenue growth with inline margins;& 3) Crown is now trading above its peer group average on a P/AFFO basis based on our FY13 estimates.”
Crown Castle International Corp. closed on Monday at $71.07.
Latest Ratings for CCI
|Jun 2015||BTIG Research||Initiates Coverage on||Buy|
|Apr 2015||Raymond James||Upgrades||Market Perform||Outperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.