Credit Suisse lowered the firm’s price target on SBA Communications to $330 from $346 and keeps an Outperform rating on the shares. The firm notes SBA reported Q4 slightly ahead on-site rental revenue and services revenue, as tower leasing activity remained solid. Management, however, guided to a second half of 2023 step down in site rental revenue, implying near or past peak 5G deployment.
Published first on TheFly
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