TD Cowen Raises Crown Castle (CCI) Price Target to $98
Key Points
- TD Cowen reiterated its Buy rating on Crown Castle Inc. on October 22, 2026, and raised its price target to $98 from $92.
- TD Cowen's $98 price target implies 24.60% upside from Crown Castle Inc.'s ($CCI) current $78.65 share price.
- The stock closed at $79.90 on the day of the analyst update and recently traded around $78.65.
- Wall Street maintains a consensus buy recommendation for the cell tower operator with a mean target price of $94.30.
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TD Cowen reiterated its Buy rating on Crown Castle Inc. (NYSE:CCI) on October 22, 2026, and raised its price target from $92.00 to $98.00. The research note provides a fresh look at the cell tower owner as the broader analyst community weighs varying perspectives on the real estate investment trust. Crown Castle shares closed at $79.90 on October 22, 2026. The stock recently traded around $78.65, sitting 1.6% below that event-day close.
CCI
Crown Castle Inc.
TD Cowen's Call on Crown Castle Inc.
In its October 22, 2026 update, TD Cowen maintained a bullish outlook on Crown Castle by keeping its Buy rating in place. The firm also lifted its target price to $98.00 from its prior target of $92.00. This forward-looking opinion highlights confidence in the company's long-term infrastructure portfolio despite a mixed backdrop of recent analyst moves across Wall Street.
Other Institutional Activity in Crown Castle Inc.
Large financial institutions continue to adjust their holdings in the real estate trust. Cohen & Steers Inc. reduced its position by 1,279,547 shares, ending the period with 39,084,710 shares valued at about $3,122,868,388.00. Lazard Asset Management LLC grew its holdings by 1,637,060 shares, finishing with 15,099,726 shares worth roughly $1,206,468,130.00.
Crown Castle Inc. Stock Down 3.1%
Crown Castle shares recently changed hands at $78.65 as of October 22, 2026. That price sits above its 50-day moving average of $74.18, though it remains below its 200-day moving average of $82.26. The stock trades well off its 52-week high of $100.50 while holding comfortably above its 52-week low of $65.32.
$CCI price target
Crown Castle Inc. daily closes and this analyst's $98 target. Not advice.
Recent Earnings
For the trailing twelve months, Crown Castle generated $4,161,000,000.00 in revenue and posted earnings of $2.49 per share. The business operates with a net profit margin of 20.7%.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
1 target raises vs 1 cuts.
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EPS & revenue
EPS missed estimates by 13.3%. Revenue met estimates.
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Profit surprise
EBITDA missed by 3 percent. Operating income met by 1 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
1 target raise, 1 target cut.
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Earnings quality
Gross margin down 1.1 points. Operating margin down 3.1 points. Positive free cash flow.
Earnings Call Summary
Crown Castle delivered a solid first quarter with organic growth of 3.1 percent, though this was held back by $49 million in DISH terminations and $5 million in Sprint cancellations. The company is pursuing a transformation to become a best-in-class tower operator by cutting costs by $65 million on an annualized basis, buying more land under towers, and exploring new revenue opportunities like edge data centers and power-as-a-service. Management remains confident in the legal case against DISH for unpaid obligations and expects the fiber and small cell sale to close by mid-2026.
Guidance Crown Castle kept its full year outlook unchanged. The company expects about $3.9 billion in site rental revenue for 2026 and $2.7 billion in adjusted EBITDA at the midpoint. The company plans to spend about $1 billion on share buybacks and $7 billion on debt repayment after selling its fiber and small cell businesses, expected to close in the first half of 2026.
Negative report. Results or guidance disappointed and expectations are likely to move lower.
Dividend
Income-focused investors collect an annual dividend rate of $4.25 per share, translating to a dividend yield of 5.4% based on recent trading levels. The current payout ratio sits at 172.8%.
Insider Buying and Selling at Crown Castle Inc.
Company insiders have completed several trades over the past year. General Counsel Edward B. Adams Jr. sold 4,650 shares on February 25, 2026, at an average price of $86.34 for a total value of $401,481.00. Officer Robert Sean Collins sold 3,000 shares on February 27, 2026, at $87.49 per share, totaling $262,470.00. Later, on May 5, 2026, Director Kevin A. Stephens bought 820 shares at $90.24 each for a total value of $73,997.00. Most recently, Robert Sean Collins sold 1,500 shares on August 7, 2026, at $75.89 per share for a total value of $113,835.00.
Analysts Set New Price Targets
Wall Street firms frequently update their views on the company. On July 28, 2026, Truist Securities maintained a Hold rating and lowered its target to $87.00 from $95.00. Barclays later maintained an overweight rating on August 20, 2026, while adjusting its target to $84.00 from $92.00. JP Morgan downgraded the stock to Underweight on September 14, 2026, with a target of $80.00 down from $85.00. Barclays returned on September 30, 2026, to maintain an overweight rating while nudging its target to $86.00 from $84.00. Across the wider analyst community, the stock holds a consensus buy recommendation with a mean target price of $94.30 across 21 analyst opinions.
About Crown Castle Inc.
Crown Castle owns, operates, and leases a massive footprint of roughly 40,000 cell towers across the United States. This infrastructure underpins the wireless connectivity required by cities and communities for everyday data and mobile services. Established in 1994 and headquartered in Houston, Texas, the real estate investment trust serves as a critical backbone for modern telecommunications.
Bottom Line
TD Cowen's decision to lift its price target to $98.00 while keeping a Buy rating shows continued support from key institutional analysts. Investors will monitor upcoming earnings reports and further institutional filings to see how the telecommunications real estate sector performs in the months ahead.
Related Filing Alerts
Source: TD Cowen's rating change on $CCI (Oct 22, 2026). Written by software, not financial advice. How we make alerts