Oppenheimer Believes Crown Castle (CCI) Still Has Room to Grow
Oppenheimer analyst Timothy Horan assigned a Buy rating to Crown Castle (CCI) today and set a price target of $205.00. The company’s shares closed last Friday at $187.18, close to its 52-week high of $188.13.
According to TipRanks.com, Horan is a 5-star analyst with an average return of 18.8% and a 69.5% success rate. Horan covers the Technology sector, focusing on stocks such as Rackspace Technology, Lumen Technologies, and Digital Turbine.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Crown Castle with a $196.54 average price target, which is a 6.2% upside from current levels. In a report issued on April 12, Jefferies also resumed coverage with a Buy rating on the stock with a $205.00 price target.
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Based on Crown Castle’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.49 billion and net profit of $121 million. In comparison, last year the company earned revenue of $1.42 billion and had a net profit of $185 million.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is neutral on the stock.
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Texas-based Crown Castle International Corp., a real estate investment trust company, was founded in 1994. It provides shared communications infrastructure in the United States and connects cities and communities to essential data, technology and wireless service. Its network includes over 40,000 cell towers and nearly 80,000 route miles of fiber supporting small cells and fiber solutions.