Crown Castle just upgraded at Wells Fargo, here’s why

Wells Fargo upgraded Crown Castle to Equal Weight from Underweight with a price target of $115, up from $90. The involvement of Elliott and the potential for a strategic shake-up should provide some downside protection for the shares, even if material upside is limited, the analyst tells investors in a research note. The firm sees an improved risk/reward profile for Crown Castle given the involvement of activist Elliott.