Citi analyst Michael Rollins lowered the firm’s price target on Crown Castle to $126 from $138 and keeps a Buy rating on the shares. The analyst updated the firm’s tower outlooks ahead of the Q3 reports to incorporate risks of higher-for-longer interest rates and a mixed domestic leasing environment. Citi views the earnings season as a “potentially-positive clearing event” with leasing growth rates that should stay at the lower half of mid-single-digits. The analyst believes concerns on Dish financial contributions can ease and operations outside of domestic towers still offer forward portfolio accretion.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on CCI:
- Wayfair upgraded, JD.com downgraded: Wall Street’s top analyst calls
- Options Volatility and Implied Earnings Moves This Week, October 16 – October 20, 2023
- Crown Castle downgraded to Sector Perform from Outperform at RBC Capital
- Is CCI a Buy, Before Earnings?
- Crown Castle initiated with a Sector Perform at Scotiabank