Crown Castle a Buy Up to $30
We maintain our Buy recommendation with a reduced valuation target for Crown Castle International (CCI - Analyst Report), a leading operator of wireless communications towers in the U.S.A and Australia, as the company prepares to announce 4th quarter 2008 financial results.
Crown Castle performed well with respect to several parameters, including site rental revenue, gross margin, adjusted EBITDA, and recurring cash flow. Financial results are expected to be driven by substantial demand for more tower space to facilitate high-speed 3G mobile technologies.
On the other hand, the level of outstanding debt remains a concern, and we believe the recent stock valuation weakness may be attributed to the leveraged balance sheet with higher debt-servicing costs. Our long-term view regarding the wireless tower industry remains positive and our assessment of Crown Castle's increasing cash flow enables the company to withstand current credit market weakness.
Read the full analyst report on CCI
|
|
|
Share |
RSS |
Rate Pos |
Rate Neg |
Comment |
|
|
||||||
Loading Stories...Most Popular on Zacks.com
More Zacks Resources
Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.
Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.
Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.
My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.
More Zacks Links
| Market Summary | Nov 08, 2009 04:42 am ET |
Sponsored Links


Sponsored Links 
1.98 %

[CLICK TO CLOSE X]