TD Cowen analyst Gregory Williams lowered the firm’s price target on SBA Communications to $253 from $266 and keeps a Buy rating on the shares. The firm said they reported downside 1Q24 results and lowered its 2024 guide due largely to FX. Management commentary suggests a U.S. carrier activity improvement although it remains to be seen if this will drive improved 2025 U.S. new leasing activity.
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