Movement Alert｜Crown Castle Overnight Rise 5.66%, Barclays Raises Price Target and Maintains Overweight Rating
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On October 9, Crown Castle rose 5.66% overnight, trading at $72.79 per share. The move followed Barclays raising its price target on the stock to $86 from $84 while maintaining an Overweight rating, reinforcing a positive stance first established in August when the firm upgraded Crown Castle from Equalweight.
This latest upward revision comes ahead of the company's third quarter earnings release on October 21, where the market expects earnings per share of $1.16. Crown Castle operates as a leading US communications infrastructure REIT with over 40,000 cell towers and substantial small cell and fiber assets, generating core revenue from long-term site lease contracts.
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