Big Three Towerco Stocks Rated a “Red Hot Buy”

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SunTrust Robinson Humphrey said in a recent research report that the top companies in the tower arena are “far less exposed from a multiple basis investors are currently factoring in valuations.” Three companies are sitting pretty in the sector, and all three are rated “Buy” by SunTrust, according to 24/7 Wall Street.

American Tower
“On a multiple basis the AMT stock trades cheaper than the competition, and many top analysts around Wall Street feel the growth potential for the company remains among the best in the industry. The company is expected to report fourth-quarter earnings at the end of the month,” the SunTrust report said. 

Crown Castle International
CCI reported solid fourth-quarter results that beat estimates on the top and bottom line. GAAP net income fell 11.6% year over year to $124.7 million. Site Rental Segment quarterly revenues were $817.3 million, up 4.1% year over year. Network Services Segment quarterly revenues were $215 million, up 33.9% year over year.

 

Investors are paid a very solid 4.22% distribution. SunTrust has a $107 price target for the stock, and the consensus target is $101.47. Shares closed most recently at $90,” said 24/7 Wall Street.

SBA Communications
“This one rounds out the trio of top tower companies at SunTrust. SBA Communications (NASDAQ: SBAC) is the third largest U.S. wireless tower company, with approximately 25,000 towers spread across the United States, Canada and Latin America. The $129 SunTrust price target is less than the consensus target of $130.47. The stock closed Tuesday at $110.71,” reported 24/7 Wall Street.

February 23, 2017

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