Raymond James analyst Ric Prentiss lowered the firm’s price target on SBA Communications to $330 from $334 and keeps a Strong Buy rating on the shares following in-line Q1 results and a slight boost to 2023 guidance. The firm continues to see an attractive risk-reward in all three tower stocks, but notes that SBA is the current preferred tower stock due to its larger exposure to U.S. towers, higher quality AFFO, and longer runway for strong dividend growth.
Published first on TheFly
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- SBA Communications sees FY23 AFFO $12.55-$12.91, consensus $12.62
- SBA Communications reports Q1 AFFO $3.13, consensus $3.11
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- SBA Communications price target lowered to $308 from $329 at Morgan Stanley
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