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Time to Own Wireless Tower Stocks

  • Oppenheimer & Co. Inc.
  • June 2, 2020
Upgrading American Tower and Crown Castle to outperform on attractive valuation and better growth ahead

Wireless fundamentals are solid and COVID-19 is accelerating secular shifts in technology, driving more usage on wireless networks. Oppenheimer analysts view wireless networks as essential services and strong credit-quality customers which is positive for towers such as American Tower (AMT) and Crown Castle (CCI).

wireless

Various industry catalysts including 5G infrastructure upgrade, new spectrum, and reinvestments by a combined T-Mobile/Sprint are expected to drive improving tower growth. Coupled with an attractive valuation in a low interest rate environment, it is time to own the tower stocks. Our team is upgrading American Tower and Crown Castle from Perform to Outperform.

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