The Houston-based wireless infrastructure operator is "the 'cleanest' play on U.S. mobile infrastructure spending," the firm said.
Crown Castle has a low-risk capital return strategy and an investment-grade balance sheet.
Additionally, the company should "capture swings in U.S. wireless spending buckets," the firm said.
"CCI has now shifted 100% of its focus to the U.S. wireless market - a strategy that has been rewarding given recent macro headwinds (and weaker F/X) in international markets," the firm said. "Beyond this, we believe the solely domestic focus not only simplifies the CCI story, but also de-risks cash flows given the health and stability of the U.S. Wireless market."
Crown Castle stock closed up 0.01% to $86.35 on Tuesday.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "buy" with a ratings score of B. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, expanding profit margins, growth in earnings per share and notable return on equity. We feel its strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value.
You can view the full analysis from the report here: CCI