Canaccord Genuity Boosts Numbers on Crown Castle (CCI) Following Q3, Cash Flow Trend Remains Strong

Canaccord Genuity boosted its price target on Crown Castle (NYSE: CCI) from $67 to $74, while reiterating his Buy rating.

The firm comments, "Despite the initial concern ignited by the 2013 guidance that appears to indicate a slowdown in revenue growth, we believe the cash flow trend remains very strong and the differential in growth rates can be explained by timing and straightline accounting adjustments. In fact, with the TMoU tower assets fully layered in its high operating leverage model, we believe CCI is on the cusp of delivering another year of double-digit AFFO growth, while potential upside to our 2013 estimates remains."

For an analyst ratings summary and ratings history on Crown Castle click here. For more ratings news on Crown Castle click here.

Shares of Crown Castle closed at $66.05 yesterday.

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