13 Best Depressed Stocks to Buy Right Now

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5. Crown Castle Inc. (NYSE:CCI)

Market Price: $84.99

52-week Low: $83.21

Number of Hedge Fund Holders: 56

Crown Castle Inc. (NYSE:CCI) is one of the Best Depressed Stocks to Buy Right Now. On January 12, JPMorgan reduced the firm’s price objective on the company’s stock to $110 from $115, while keeping a “Neutral” rating, as reported by The Fly. Notably, the firm reduced new leasing estimates for the tower companies ahead of earnings. This was done to exhibit a more conservative approach because of the potential impact from EchoStar.

The analyst opines that a modest industry outlook is outweighed by the EchoStar/DISH overhang. However, deals can act as a positive catalyst for the tower stocks.

In a separate update, on January 12, Crown Castle Inc. (NYSE:CCI) announced that DISH Wireless defaulted on its payment obligations to Crown Castle. As a result, Crown Castle terminated its wireless infrastructure agreement with DISH. Crown Castle Inc. (NYSE:CCI) added that it remains supportive of AT&T and SpaceX getting the 3.45 GHz, 600 MHz, AWS-4, H-block, and unpaired AWS-3 spectrum bands and putting the public resource into active use for Americans.

Crown Castle Inc. (NYSE:CCI) owns, operates, and leases shared communications infrastructure that is geographically dispersed across the US.

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