04:00 PM EST, 11/09/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our 12-month target by $10 to $50, on an EV/EBITDA multiple of 10.7x our 2025 estimate. The company anticipates having between 800 and 1,800 tenantless towers as TMUS finalizes site selections. These towers currently generate no rental income. While efforts are ongoing to lease them, some may need to be decommissioned if they remain uneconomical, presenting a risk to future revenue streams. Interim revenues from TMUS sites are expected to go away over time as TMUS has the ability to cancel these leases on short notice. We think this will contribute to margin pressure in future periods and requires Array to offset lost revenue through other means. In addition, the company continues to incur costs associated with managing its remaining spectrum assets, which are temporary but still contribute to elevated cost levels until spectrum monetization is completed. on the positive side, the company has experienced a significant increase in new co-location applications (excluding TMUS), which are up 125% YTD.