Wells Fargo analyst Eric Luebchow lowered the firm’s price target on SBA Communications to $230 from $260 and keeps an Overweight rating on the shares. A bit of a choppy quarter for SBA, even if guidance stripping out FX is largely unchanged, the firm says. Wells is “cautiously optimistic” leasing can improve, but guidance upside/accretive buybacks remain more challenging near term given current cost of capital.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SBAC:
- SBAC Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- SBA Communications (NASDAQ:SBAC): A Compelling Tower REIT Stock with Analysts’ Backing
- SBA Communications price target lowered to $255 from $260 at Barclays
- ‘Time to Hit Buy,’ Says Bank of America About These 3 Stocks
- SBA Communications upgraded to Buy from Neutral at BofA