In a research note last week, Macquarie Securities analysts, Kevin Smithen and Will Clayton, reported that they believe Verizon will win the entire FirstNet public safety project. “We believe that FirstNet, on the back of the $45 billion AWS-3 auction, will be one of the key areas of focus at the upcoming PCIA towers conference in two weeks. We are increasingly of the view that Verizon could win this project and that this could alleviate our concerns over the lack of a natural second tenant on the newly acquired Verizon sites,” they wrote. Many expect FirstNet to begin their “amendment or new tenant revue” in the tower sector between late 2016 and 2019, but it’s unsure it FirstNet will use Verizon entirely or utilize all four major carriers. FirstNet’s mission is to build, operate and maintain the first high-speed, nationwide wireless broadband network dedicated to public safety.