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Bank of America Previews Earnings for Crown Castle International


Bank of America has published a report on Crown Castle International Corporation (NYSE: CCI) previewing earnings for the company.

In the report, Bank of America wrote, "Conference Call InfoThursday, July 28th, at 10:30 a.m. (ET). Dial-in: 480-629-9771; Password: “Crown Castle Call”. Replay: 303-590-3030; Password: 4455448. Key Issues we are watching into the quarter: Guidance. We expect CCI to reiterate guidance for 2011 covering site rental revenue, EBITDA, and recurring cash flow. Our '11 site rental revenue of $1.831b is at the high end of guidance of $1.815-1.835b and our adjusted EBITDA is $1.268b, again at the high end of the $1.248-1.268b range. Carrier activity. We anticipate the company providing an update on wireless network spending activity by carrier and to speak to how key underlying fundamental drivers are tracking relative to expectations baked into 2011 guidance. Specifically, we will look for color around the pace at which AT&T and Verizon are deploying 4G infrastructure and any change in network spending at T-Mobile and Sprint Nextel."

Bank of America rated Crown Castle International a BUY with a price target of $50.00. Crown Castle International closed Tuesday at $42.26.

Posted-In: Bank of America Merrill Lynch crown castle internationalAnalyst Color Analyst Ratings


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