Citizens JMP analyst Greg Miller raised the firm’s price target on SBA Communications (SBAC) to $270 from $250 and keeps an Outperform rating on the shares. SBA Communications’ Q1 results were slightly better than expected, with guidance that matched, the analyst tells investors in a research note. Citizens continues to believe that tower stocks represent a relative haven a during a time of significant economic turmoil, with little global exposure and as nearly all foreign revenues are matched with foreign-denominated expenses.
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Read More on SBAC:
- SBA Communications price target raised to $247 from $244 at Barclays
- Hold Rating for SBA Communications Amid Strong Start and Modest Growth Outlook
- SBA Communications: Buy Rating Affirmed Amid Positive Growth Outlook and Raised Revenue Forecasts
- SBA Communications reports Q1 AFFO $3.18, consensus $3.12
- SBA Communications sees FY25 AFFO $12.53-$12.90, consensus $12.67