Crown Castle price target lowered to $105 from $110 at BMO Capital

BMO Capital lowered the firm’s price target on Crown Castle to $105 from $110 and keeps a Market Perform rating on the shares. The company reported “generally solid” Q1 results, with EBITDA upside and higher tower and small-cell organic growth, but the management downplayed seeing anything to suggest improvement in tower activity this year, the analyst tells investors in a research note. Crown Castle is engaging with multiple parties on a potential fiber/small-cell sale that could help drive a re-rating, but questions on pricing, execution, and long-term strategy remain unanswered, the firm added.