J.P. Morgan Update Its Model On SBA Communications

J.P. Morgan has updated its model on SBA Communications (NASDAQ: SBAC)following second-quarter 2010 earnings
results.

J.P. Morgan states that SBAC reported better-than-expected results, and management modestly revised guidance upward to reflect closed acquisitions. Acquisitions that have not closed were excluded, but could drive future guidance raises.

J.P. Morgan is increasing its forecast for SBA Communications site rental revenue, EBITDA, and recurring free cash flow to reflect contributions from recent deals. J.P. Morgan's model also reflects revised forecasts for share repurchases.