BofA analyst David Barden downgraded Crown Castle (CCI) to Neutral from Buy with a $115 price target. The firm is downgrading Crown and SBA Communications (SBAC) citing moderating domestic growth, interest rates headwinds, elevated Sprint churn, and company-specific elements hindering AFFO per share growth. BofA reiterates American Tower (AMT) as its top tower pick and favor its holistic master lease agreement contract structures domestically, diverse international exposure and its “peer leading” AFFO per share growth.
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