Benchmark Capital Maintains Buy On SBA Communications (SBA)

Benchmark Capital is maintaining its Buy rating on SBA Communications Corporation SBAC after the company reported better than expected earnings. It has a $45 price target on shares. In a note to clients, Benchmark writes, "Last night, SBA Communications (SBA) reported solid 3Q10 results and 2011 guidance. Interestingly, SBA did not announce a tenant lease modification like tower peer Crown Castle. The 2011 EBITDA guidance midpoint is $435 million, only $3 million below our prior estimate. This represents a good starting point as SBA is typically conservative with its initial outlook. We maintain our Buy rating." Shares of SBAC gained 84 cents yesterday to close at $40.04.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorAnalyst RatingsBenchmark CapitalTelecommunication ServicesWireless Telecommunication Services
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!