Wolfe Research upgraded Crown Castle (CCI) to Outperform from Peer Perform with a $114 price target, which implies 28% total return. Crown Castle’s downside risk related to recent EchoStar (SATS) news is limited, which creatives an opportunity in the stock, the analyst tells investors in a research note. Wolfe believes the EchoStar developments have created churn and AT&T new leasing activity concerns for Crown Castle.
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