JPMorgan Reduces the Firm's PT on Crown Castle Inc. (NYSE:CCI) Stock

Crown Castle Inc. (NYSE:CCI) is one of the Best Depressed Stocks to Buy Right Now. On January 12, JPMorgan reduced the firm’s price objective on the company’s stock to $110 from $115, while keeping a “Neutral” rating, as reported by The Fly. Notably, the firm reduced new leasing estimates for the tower companies ahead of earnings. This was done to exhibit a more conservative approach because of the potential impact from EchoStar.

The analyst opines that a modest industry outlook is outweighed by the EchoStar/DISH overhang. However, deals can act as a positive catalyst for the tower stocks.

In a separate update, on January 12, Crown Castle Inc. (NYSE:CCI) announced that DISH Wireless defaulted on its payment obligations to Crown Castle. As a result, Crown Castle terminated its wireless infrastructure agreement with DISH. Crown Castle Inc. (NYSE:CCI) added that it remains supportive of AT&T and SpaceX getting the 3.45 GHz, 600 MHz, AWS-4, H-block, and unpaired AWS-3 spectrum bands and putting the public resource into active use for Americans.

Crown Castle Inc. (NYSE:CCI) owns, operates, and leases shared communications infrastructure that is geographically dispersed across the US.

While we acknowledge the potential of CCI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.