In a report published Friday, Stifel analyst Benjamin Lowe reiterated a Buy rating on Crown Castle International Corp. CCI, but lowered the price target from $90.00 to $82.00.
In the report, Stifel noted, “We reiterate our Buy rating on shares of Crown, though we are reducing our target price to $82 from $90 to account for the prepaid rent contribution. Our price target equates to an AFFO multiple of approximately 19x our 2014 core AFFO estimate (excludes prepaid rent). We remain attracted to the tower sector broadly given the secular growth trends that are driving ongoing investment by the carriers, and believe Crown is positioned to benefit from those trends as the largest domestic operator.”
Crown Castle International Corp. closed on Thursday at $69.22.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in