Barclays analyst Brendan Lynch downgraded Crown Castle to Equal Weight from Overweight with a price target of $152, down from $153. Following an analysis of small cells, the analyst says "long-anticipated demand will not materialize in earnest" until 2026 or later. As a result, he downgrades Crown Castle to Equal Weight. Lynch remains constructive on the tower component of 5G infrastructure, but remains cautious on data centers in 2023.
Published first on TheFly
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