BMO Capital analyst Ari Klein upgraded Crown Castle to Market Perform from Underperform with a price target of $110, up from $107. Following pressure from Elliott Management, Crown Castle has quickly moved to reassess its fiber strategy which has been a key driver of its long-term underperformance versus peers, the analyst tells investors in a research note. Given the higher likelihood of change to the fiber strategy, including a potential sale, the firm believes the stock’s risk/reward is now more balanced.
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