Crown Castle dips, Wells Fargo cuts to 'equal weight'

Wireless tower operator Crown Castle's CCI.N shares fall 1.5% to $81.15

Wells Fargo downgrades to "equal weight" from "overweight," cuts PT $85 from $90

New PT still implies a 3.2% upside to the stock's last close

Wells Fargo notes CCI's growth excluding DISH is "meaningfully below peers"

"They could narrow the gap through densification/colos, but the majority of rents are tied to long-dated MLAs with no meaningful expirations until 2028 with AT&T" - Brokerage

Avg. rating of 19 analysts is "buy;" their median PT is $100 - data compiled by LSEG

Up to last close, stock has fallen 7.3% so far this year