Goldman Sachs Reiterates Conviction Buy On Crown Castle International Corp. (CCI)

Goldman Sachs is reiterating its Conviction Buy rating on shares of Crown Castle International Corp. CCI following meeting with the company's CFO. In a note to investors, Goldman Sachs writes, "Activity levels at AT&T and Verizon remain very strong, while Sprint the remains the question mark. Sprint continues to re-sign expiring iDEN leases, and is expected to offer more clarity on its Network Vision project in the near future. Network sharing is a risk and an opportunity for the tower companies, and we believe several companies could fit into network sharing plans with Sprint. Tower companies have significant leverage in network sharing amendments, as current contracts are specific to spectrum bands and therefore do not offer significant flexibility. Other items of note include: (1) Renewed momentum around a potential public safety network, which could offer upside from 40k new cell sites at ~$1,750 per site/per month; (2) CCI's conversations with carriers have surfaced little interest in using the disruptive ALU lightRadio." Shares of CCI gained 3 cents yesterday to close at $42.21, a gain of 0.07%.