Telecom: Favor the Towers (AMT, CCI, SBAC)

This article was placed on behalf of the U.S. based equity research effort of institutional broker and investment bank Canaccord Genuity. It was part of a series of articles developed under an agreement with forbes.com to work with a variety of contributors and assist them in delivering actionable investment ideas each week. The site, forbes.com is one of the top 500 sites in the world with nearly 10 million subscribers and approximately 100 million page views a month.

Recommending that investors take advantage of tower stocks, Canaccord Genuity telecom analyst Greg Miller said his favorites are American Tower (AMT – BUY, $72 target), Crown Castle (CCI – BUY, $63 target) and SBA Communications (SBAC – BUY, $60 target). Mr. Miller said:

“We believe the deployment of 4G LTE nationwide by all four major carriers in addition to the continued upgrade activity of Sprint and T-MobileUSA will continue to benefit the three publicly traded tower companies over the next few years.”

He added, “Some remain concerned that wireless consolidation could result in disruptive activities similar to when AT&T announced it would merge with T-MobileUSA (albeit smaller scale). We do not believe there is significant risk to the towers from the increasingly speculated M&A activity. Given that a T-MoUSA – Sprint deal now appears highly unlikely and with minimal overlap for the others, we believe the risk to the tower stocks is minimal.”

Amazon Summits A Dow That No Longer Exists

The addition of Amazon to the Dow with Walgreen’s unceremonious deletion, and the Dow’s current composition tells it like it

Financial Institutions Feeling the Crunch in Countdown to CECL Implementation

I was retained by Big Four accounting and consulting firm KPMG to assist them in their thought leadership efforts centered on changing accounting regulations. In this case, the Financial Accounting Standards Board or FASB had instituted new rules on the measurement of current and expected credit losses, i.e. CECL, that would require massive reorganization of financial reporting for the largest financial services organizations in the world. This thought leadership piece concerned the results of a survey among C-suite executives about their state of preparedness in the final countdown to the CECL implementation.

Securitizing Structured Settlement Payment Streams: A Primer

Fall 2012. This article was written with Stefano Sola and Phil Donahue, executives at JGWPT Holdings. We were engaged by JGWPT to assist them
in publishing the article below for The Journal Of Structured Finance.

Is The Media Biased?

This story is from our February 2024 update newsletter that offers communications insights, and hopefully, some amusing diversion.

David R. Evanson, LLC David R. Evanson, LLC