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Fly News Breaks for September 6, 2016
CCI
Sep 6, 2016 | 07:10 EDT
Oppenheimer analyst Timothy Horan upgraded Crown Castle to Outperform from Perform saying the company offers investors unique exposure to secular growth in data consumption and small cells, with near-term catalysts and stable rates. The analyst expects mobile data traffic to grow 10 times in the next six years, which should drive cell site equivalent locations by 25%-50%, and believes macro towers will benefit from new spectrum builds. Horan has a $109 price target on the shares.
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