Entering text into the input field will update the search result below

BTIG stays bullish on wireless tower firms

Dec. 20, 2016 3:59 PM ETAmerican Tower Corporation (AMT) StockAMT, CCI, SBACBy: Jason Aycock, SA News Editor2 Comments
  • Wireless towers still make up a solid investment, BTIG's Walt Piecyk says, with commentary on American Tower (NYSE:AMT), SBA Communications (SBAC -0.7%) and Crown Castle (CCI +0.3%).
  • Low churn at American Tower (reiterated Buy rating; trimmed price target to $137, implying 28% upside) promises the fastest growth in domestic leasing revenue, he notes.
  • Also at Buy is SBAC, growing fastest in gross tower leasing but facing about $50M in churn in the next three years from Metro, Leap and Clearwire. But SBAC doesn't face the same pressure from big sale-leaseback transactions as its peers. Bumping SBAC's price target to $145 implies a hefty 39.5% upside.
  • Piecyk is Neutral on Crown Castle, though the company should see a lift in growth from fiber investments.
  • Overall: “Stable growth in a high margin, low capital intensive business should still be attractive to investors, even in an uncertain interest rate environment,” he writes.

Recommended For You

About AMT Stock

SymbolLast Price% Chg
FFO (FWD)
PE
Div Rate (TTM)
Yield (TTM)
Market Cap
Volume
Compare to Peers

Related Stocks

SymbolLast Price% Chg
AMT--
American Tower Corporation