Scotiabank has adjusted its price target for Crown Castle Inc. (CCI, Financial), raising it from $99 to $109 while maintaining its Sector Perform rating. This change comes as the firm updates its projections for certain stocks within the Telecommunications, Media, and Technology (TMT) infrastructure sector, anticipating the upcoming first-quarter results.
Despite recent disruptions in the market, Scotiabank notes there is no indication of delays in artificial intelligence-related projects. However, it has observed some postponements in other enterprise IT projects, which may affect the pace of broader digital transformation initiatives. The decision to increase the price target is also influenced by the company's enhanced growth outlook for adjusted funds from operations.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 17 analysts, the average target price for Crown Castle Inc (CCI, Financial) is $110.47 with a high estimate of $123.00 and a low estimate of $88.00. The average target implies an upside of 8.17% from the current price of $102.13. More detailed estimate data can be found on the Crown Castle Inc (CCI) Forecast page.
Based on the consensus recommendation from 21 brokerage firms, Crown Castle Inc's (CCI, Financial) average brokerage recommendation is currently 2.6, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Crown Castle Inc (CCI, Financial) in one year is $69.91, suggesting a downside of 31.55% from the current price of $102.13. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Crown Castle Inc (CCI) Summary page.
