RBC Capital lowered the firm’s price target on SBA Communications (SBAC) to $232 from $235 and keeps an Outperform rating on the shares. The company’s Q3 results were in line with estimates on site leasing revenue, though the management decreased site leasing revenue guidance, reflecting the delayed Millicom acquisition and earlier than expected Canadian tower divestiture, the analyst tells investors in a research note.
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Read More on SBAC:
- SBA Communications’ Earnings Call Highlights Growth and Optimism
- SBA Communications price target lowered to $237 from $249 at TD Cowen
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