Goldman Sachs Suggests Buying Calls on Crown Castle International (CCI)

Goldman Sachs is out with a research note this morning, where it suggests that traders look to buy calls on Crown Castle International Corp. CCI ahead of a potential levered recap. Goldman Sachs telecom analyst, Jason Armstrong, believes that CCI is now, more than ever, likely to pursue a levered recap as a way to return capital to shareholders. The analyst rates shares CL-Buy and sees 31% upside to his 12-month price target of $54. Goldman suggests buying the July $42 call for $2.00. Crown Castle International Corp. owns, operates and leases towers and other wireless infrastructure, including distributed antenna system (DAS) networks in the United States and rooftop installations.