UPDATE: Benchmark Raises Crown Castle's PT
According to a research report published earlier today, Benchmark has increased Crown Castle International Corp.'s (NYSE: CCI) PT from $54 to $63.
Benchmark commented in the report, “Wireless tower leasing activity is ramping with the four largest domestic carriers actively building networks for the first time in years. Crown Castle (CCI) is well-positioned to benefit with 94% of revenue from the US and heavy exposure to Sprint. CCI also remains discounted relative to tower peer American Tower (AMT). CCI is being added to the S&P 500 Index, which likely drives money flow to the stock.”
Benchmark maintains its Buy rating on Crown Castle, which is currently trading at $55.39.
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