RBC Capital lowered the firm’s price target on SBA Communications to $235 from $250 and keeps an Outperform rating on the shares. The company’s revenues and EBITDA were shy of expectations on softer U.S. trends, with AFFO metrics in line on lower-than-expected maintenance capex, the analyst tells investors in a research note. SBA’s updated 2024 guidance reflects a tick down in net organic growth expectations and FX headwinds, the firm added.
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