CCI - Crown Castle stock pulls back after Deutsche Bank cuts to Hold

• Crown Castle International ( NYSE: CCI ) shares are sliding 2.5% in Wednesday premarket trading after Deutsche Bank analyst Matthew Niknam downgraded the infrastructure REIT to Hold from Buy.
• In the wake of recession risks, persistently high inflation and tighter financial conditions, “we see a tougher near-term path to upside for shares, with slight downside to consensus expectations,” Niknam wrote in a note to clients.
• Niknam added that adjusted FFO per share growth will likely come in lower than Crown Castle's ( CCI ) target range of 7% to 8% in the coming years.
• Still, Crown Castle ( CCI ), which owns, operates and leases a nationwide portfolio of communications infrastructure, is "one of the top digital infrastructure "pure plays" benefitting from US 5G builds over the next decade, given its mix of towers, small cells and fiber," the note said.
• Six analysts are expecting Crown Castle ( CCI ) to see 2022 FFO of $7.77 per share, a Y/Y jump of 21.6%, expanding to $7.96 in 2023.
• Take a look at why SA contributor BeanKounter Capital thinks Crown Castle is a Strong Buy .

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