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Crown Castle CEO termination ‘adds uncertainty,’ says BMO Capital

BMO Capital says that in a “surprise announcement,” Crown Castle (CCI) is terminating CEO Steve Moskowitz with previously outgoing CFO Dan Schlanger stepping in as interim CEO. For now, BMO does not expect a strategy shift as Crown Castle positions itself as the only pure-play U.S. tower real estate investment trust with the sale of its fiber and small-cells. However, the leadership transition “adds uncertainty,” the analyst tells investors in a research note. BMO keeps a Market Perform rating on the shares with a $108 price target

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