Market Overview

UPDATE: Nomura Raises PT on SBA Communications on Positive Outlook, Upwardly Revised Estimates

Share:
Related SBAC
After-Hours Recap: Fast Food Earnings, Index Movers
JPMorgan Steps To The Sidelines On SBA Communications

In a report published Monday, Nomura analyst Adam Ilkowitz reiterated a Buy rating on SBA Communications Corporation (NASDAQ: SBAC), and raised the price target from $85.00 to $90.00.

In the report, Nomura noted, “Tower industry revenue grew over 20% in 1H13, helped by strong carrier network spending and tower acquisitions. On an organic basis, we believe site rental revenue growth of ~11% for the tower operators is a sign of the health of the U.S. wireless industry and elevated capital spending. After 30% portfolio growth in 2012 across the three tower operators, profitability is recovering from diluted levels. Despite a still-tepid global economy, carriers are investing in their networks to respond to consumer demands and traffic growth. With our positive outlook and upwardly revised estimates, we are increasing our target prices for AMT and SBAC both from $85 to $90 and raising AMT to a Buy. We are raising our 2014 AFFO estimates for all three operators given strong activity levels and announced acquisitions.”

SBA Communications Corporation closed on Friday at $76.50.

Latest Ratings for SBAC

DateFirmActionFromTo
May 2016JP MorganDowngradesOverweightNeutral
May 2016Stifel NicolausMaintainsBuy
Mar 2016Wells FargoDowngradesOutperformMarket Perform

View More Analyst Ratings for SBAC
View the Latest Analyst Ratings

Posted-In: Adam Ilkowitz NomuraAnalyst Color Price Target Analyst Ratings

 

Related Articles (SBAC)

View Comments and Join the Discussion!