J.P. Morgan analyst Richard Choe maintains $Crown Castle (CCI.US)$ with a hold rating, and adjusts the target price from $124 to $121.
According to TipRanks data, the analyst has a success rate of 77.1% and a total average return of 10.1% over the past year.
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 matched expectations, while EBITDA and adjusted FFO surpassed them by 2%-4%. The anticipated decrease in AFFO per share by 8% in 2024 is projected to persist due to increased interest, a reduced contribution from services, and lower prepaid amortization along with decreased Sprint cancellation fees. This downtrend is expected to continue with minor single-digit declines in 2025 before a return to growth in 2026.
Crown Castle's recent quarter was reported without any significant updates regarding the timing or structure of the company's strategic review. It is still anticipated that a sale of the fiber or small cell segment is the most probable outcome, though preparations are being made in the event that the company decides to retain this part of the business.
Crown Castle's Q3 AFFO per share slightly exceeded estimates, and the FY24 guidance remained unchanged, indicating that the results were overall somewhat better than anticipated. Despite no updates this quarter on the fiber strategic review, recent press reports imply that progress may be forthcoming.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
