These Analysts Cut Their Forecasts On Crown Castle Following Q1 Results
Portfolio Pulse from Avi Kapoor
Crown Castle Inc. (NYSE:CCI) reported Q1 sales of $1.64 billion, slightly above expectations, and maintained its 2024 AFFO per share outlook of $6.85 to $6.97. Despite positive results, shares fell 1% after analysts from BMO Capital and Scotiabank lowered their price targets on CCI following the earnings announcement.

April 18, 2024 | 1:30 pm
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Crown Castle reported higher than expected Q1 sales and reaffirmed its 2024 AFFO outlook, but saw a 1% share price drop after analysts cut price targets.
Crown Castle's positive earnings report and reaffirmed outlook typically signal strength, but the immediate stock price reaction was negative due to analysts from BMO Capital and Scotiabank lowering their price targets. This suggests a short-term bearish sentiment influenced by the market's reaction to the analysts' revised expectations, despite the company's solid performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100