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Fly News Breaks for September 13, 2016
SBAC, CCI, AMT
Sep 13, 2016 | 08:32 EDT
As noted earlier, SunTrust initiated coverage of wireless tower operators American Tower (AMT), Crown Castle (CCI), and SBA Communications (SBAC) with Buy ratings. Analyst Greg Miller expects the companies to benefit from huge jumps in mobile data usage over the next four years. He adds that the companies have very strong business models,. while their foreign exchange headwinds are lessening. He recommends Crown Castle for more risk averse investors, and says that American Tower is a good stock for more risk tolerant investors looking for a growth name. SBA also has good growth prospects and could become an acquisition target over the longer term ,according to the analyst. He set a $128 price target on American Tower, a $107 price target on Crown Castle. and a $129 price target on SBA.