Crown Castle's AFFO/Share Growth Likely To Lag Peers Despite Initial 5G Deployment Advantage: Analyst
Portfolio Pulse from Lekha Gupta
BMO Capital Markets analyst Ari Klein initiated coverage on Crown Castle Inc (NYSE:CCI) with an Underperform rating and a price target of $113. Despite CCI's strong position as a U.S. tower operator and potential for higher share of initial 5G deployments, Klein expects CCI's adjusted FFO/share to decline by 1.7% in 2024 and 1.3% in 2025, with minimal dividend growth. CCI's AFFO/share growth is expected to lag peers over the next few years.
July 13, 2023 | 5:25 pm
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Crown Castle's AFFO/share growth is expected to lag peers over the next few years, despite its strong position in the U.S. tower operator market and potential for higher share of initial 5G deployments. The company's adjusted FFO/share is expected to decline, with minimal dividend growth.
The analyst from BMO Capital Markets expects Crown Castle's AFFO/share growth to lag behind its peers over the next few years, despite the company's strong position in the U.S. tower operator market and potential for higher share of initial 5G deployments. This is due to the expectation of a decline in the company's adjusted FFO/share and minimal dividend growth. This negative outlook is likely to impact the company's stock price in the short term.
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