On Oct 18, major Wall Street analysts update their ratings for $Crown Castle (CCI.US)$, with price targets ranging from $115 to $128.
J.P. Morgan analyst Richard Choe maintains with a hold rating, and adjusts the target price from $124 to $121.
BofA Securities analyst David Barden maintains with a hold rating, and maintains the target price at $115.
Citi analyst Michael Rollins maintains with a buy rating, and adjusts the target price from $126 to $128.
TD Cowen analyst Michael Elias maintains with a buy rating, and maintains the target price at $123.
KeyBanc analyst Brandon Nispel maintains with a hold rating.
Furthermore, according to the comprehensive report, the opinions of $Crown Castle (CCI.US)$'s main analysts recently are as follows:
Crown Castle's third-quarter revenues aligned with projections, whereas EBITDA and adjusted FFO surpassed expectations by 2%-4%. It is anticipated that increased interest expenses, a reduced contribution from services, along with decreased prepaid amortization and Sprint cancellation fees, will contribute to an 8% fall in AFFO per share in 2024. This is expected to precede minor declines in the following year and a resurgence of growth in 2026.
Crown Castle's recent quarterly report was notably straightforward, lacking significant updates on the timing or structure of the company's strategic review. Analysts anticipate that a fiber or small cell sale remains the most probable outcome, though there is an increasing likelihood that Crown Castle may decide to retain the business.
The third-quarter AFFO per share slightly exceeded expectations, and the guidance for FY24 was reiterated. The overall results for Q3 were considered to surpass anticipations. Despite the lack of updates on the fiber strategic review during this quarter, recent reports imply that developments may be forthcoming.
The firm reported a modest outperformance in 3Q24 and has largely retained its guidance for 2024. The primary area of interest continues to be the outcome of the Fiber strategic review, on which management has offered minimal new information.
Here are the latest investment ratings and price targets for $Crown Castle (CCI.US)$ from 6 analysts:
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