Skip to main content

Market Overview

UPDATE: Bank of America Raises PT to $60 on Crown Castle International

Share:

Bank of America raises its price target to $60 on Buy-rated Crown Castle International (NYSE: CCI) as the stock's inclusion in the S&P 500 is a new positive catalyst for the company.

Bank of America says, "After the market close yesterday, Standard and Poor's announced it will be adding Crown Castle to the S&P 500 index to replace Constellation Energy Group (NYSE: CEG) which is being acquired by Exelon Corp. (NYSE: EXC). The acquisition of CEG is expected to close early this year, pending regulatory approvals. With $14.9b of market capitalization, CCI has exhibited an emerging profit trend and met a key inclusion hurdle – 4 consecutive quarters of positive net income from continuing operations. This hurdle was cleared late last year."

CCI closed at $52.59 a share yesterday.

 

Related Articles (CCI + CEG)

View Comments and Join the Discussion!

Posted-In: Bank of AmericaAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings

Latest Ratings

StockFirmActionPT
CLVSHC Wainwright & Co.Maintains12.0
PDDDaiwa CapitalInitiates Coverage On180.0
RYAMRBC CapitalDowngrades11.0
XOMDZ BankUpgrades67.0
BWFGKeefe, Bruyette & WoodsUpgrades35.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com