Bitcoin price today: falls to 2-week low below $113k ahead of Fed Jackson Hole
Investing.com - BMO Capital upgraded Crown Castle (NYSE:CCI), a prominent player in the Specialized REITs industry with a $43.7 billion market cap, from Market Perform to Outperform on Tuesday, while raising its price target to $120.00 from $115.00. According to InvestingPro data, the stock currently trades at $100.55.
The upgrade comes after Crown Castle’s decision to sell its fiber business, a transaction BMO Capital notes could take until mid-2026 to close. The firm views the risk/reward profile as favorable, with shares trading at 17.8x 2H26+1H27 AFFO/share. The company maintains a solid gross profit margin of 71.5% and offers an attractive dividend yield of 4.23%.
BMO Capital cited several positive factors supporting its more bullish stance, including an improved carrier activity backdrop and the recent appointment of a new CEO, which removes a previous overhang for the company.
The research firm also highlighted Crown Castle’s margin expansion potential as a key factor in its upgraded outlook for the telecommunications infrastructure company.
BMO Capital expects Crown Castle will continue to re-rate as a U.S. Tower pure-play, with $3 billion of post-close share repurchases providing additional support for the stock.
In other recent news, Crown Castle reported second-quarter earnings that exceeded analyst expectations, posting earnings per share of $0.67 against an estimated $0.48. The company’s revenue reached $1.08 billion, surpassing the consensus estimate of $1.04 billion, bolstered by a 4.7% organic growth in site rental billings. Following these results, Crown Castle raised its guidance for core leasing, services, and adjusted funds from operations per share. Wells Fargo (NYSE:WFC) upgraded Crown Castle’s stock rating from Equal Weight to Overweight, citing progress in the company’s cost-cutting initiatives. KeyBanc also maintained an Overweight rating and increased its price target to $125, reflecting the strong quarterly performance. Similarly, Raymond (NSE:RYMD) James raised its price target to $124, maintaining a Strong Buy rating, and highlighted improvements in U.S. Tower Leasing and costs. JMP Securities reiterated its Market Outperform rating and noted the company’s potential recovery following a significant dividend cut. These developments indicate a positive outlook from multiple analyst firms regarding Crown Castle’s recent performance and strategic direction.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.