KeyBanc lowered the firm’s price target on SBA Communications to $297 from $319 and keeps an Overweight rating on the shares. The firm notes results were better-than-expected for net organic growth, adjusted EBITDA, and AFFO/share. However, 2023 guidance was in line to slightly below. Now, investors are likely to focus on the downward trajectory of the U.S. new leasing in 2023 and wonder when that downtrend will stop, KeyBanc adds.
Published first on TheFly
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