Top Stock to Buy #1 – Crown Castle International Corp. (CCI)
Crown Castle International Corp. (NYSE:CCI) owns, operates and leases wireless infrastructure, including towers and antenna systems. Earnings have been on a tear, increasing from $0.37 in 2010 to $0.60 in 2011, and estimates for 2012 are $0.75.
Technically, the stock is consolidating with support at its bullish support line and resistance at a triple-top at $69 (close). CCI is under heavy accumulation, so although buying “at the market” may entail greater risk than when it was first recommended in our Top Stocks to Buy in July, the company’s performance fully justifies new positions now.
A break through the triple-top gives a trading target of $75. Longer term investors are likely to achieve a much greater return on their investment.