Barclays lowered the firm’s price target on SBA Communications to $260 from $265 but keeps an Overweight rating on the shares as part of a broader research note on U.S. Communication Infrastructure. Although guidance was below consensus for the quarter, shares now trade at just 15-times the firm’s expected 2025 AFFO per share, a level where they will find support, the analyst tells investors in a research note.
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Read More on SBAC:
- SBA Communications files automatic mixed securities shelf
- SBA Communications price target lowered to $265 from $285 at BMO Capital
- SBA Communications price target lowered to $266 from $343 at TD Cowen
- SBA Communications price target lowered to $260 from $270 at Wells Fargo
- SBA Communications sees FY24 FFO $13.15-$13.51, consensus $13.49
