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Downgrade Alert for Crown Castle International (CCI)

By David Diaz

Crown Castle International (NYSE:CCI) was downgraded from Buy to Neutral at BTIG today. The stock closed yesterday at $99.66 on volume of 1.8 million shares, below average daily volume of 1.9 million.

Crown Castle International Corp. engineers, deploys, owns, and operates shared wireless infrastructure. The Company offers wireless communications coverage to various United States markets and most of the Australian populations. Crown Castle owns, operates, and manages various wireless communication towers internationally.

Based on a current price of $99.66, Crown Castle International is currently 4.8% above its average consensus analyst price target of $94.85. Crown Castle International shares have support at the 50-day moving average (MA) of $86.74 and additional support at the 200-day MA of $84.27.

In the past 52 weeks, Crown Castle International share prices have been bracketed by a low of $75.71 and a high of $102.82 and closed yesterday at $99.66, 32% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Crown Castle International on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $86.63. Since that recommendation, shares of Crown Castle International have risen 14.7%. We continue to monitor CCI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades crown castle international

Ticker(s): CCI