UBS AG Initiates Coverage on Crown Castle (CCI)

By admin | 7 years ago

Equities research analysts at UBS AG (NYSE: UBS) started coverage on shares of Crown Castle (NYSE: CCI) in a research note issued to investors on Friday. The firm set a “buy” rating and a $63.00 price target on the stock.

Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank (NYSE: DB) raised their price target on shares of Crown Castle from $69.00 to $70.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Crown Castle in a research note to investors on Thursday. Finally, analysts at Atlantic Equities upgraded shares of Crown Castle from a “neutral” rating to an “overweight” rating in a research note to investors on Thursday.

Crown Castle opened at 56.60 on Friday. Crown Castle has a 1-year low of $37.53 and a 1-year high of $57.78. The company has a market cap of $15.907 billion and a price-to-earnings ratio of 108.87.

The company last announced its quarterly results on Wednesday, April 25th. It reported $0.67 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.65 EPS by $0.02. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Analysts expect that Crown Castle will post $0.20 EPS next quarter.

Crown Castle International Corp. (CCIC) owns, operates and leases shared wireless infrastructure, including towers and other structures, such as rooftops (towers); distributed antenna systems (DAS)(each such system is a network of antennas for the benefit of wireless carriers and is connected by fiber to communication hubs designed to facilitate wireless communications), and interests in land under third party towers in various forms (third party land interests) (unless the context otherwise suggests or requires, references herein to wireless infrastructure include towers, DAS and third party land interests).

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