Jefferies Sticks to Its Buy Rating for Crown Castle (CCI)

In a report released today, Jonathan Petersen from Jefferies maintained a Buy rating on Crown Castle (CCI – Research Report), with a price target of $123.00. The company’s shares closed yesterday at $93.05.

According to TipRanks, Petersen is a 5-star analyst with an average return of 6.2% and a 58.33% success rate. Petersen covers the Real Estate sector, focusing on stocks such as Crown Castle, Extra Space Storage, and Healthpeak Properties.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Crown Castle with a $117.83 average price target, implying a 26.63% upside from current levels. In a report released today, Citi also maintained a Buy rating on the stock with a $126.00 price target.

Based on Crown Castle’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.67 billion and a net profit of $265 million. In comparison, last year the company earned a revenue of $1.75 billion and had a net profit of $419 million

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CCI in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Crown Castle (CCI) Company Description:

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.