Market Overview

UPDATE: Pacific Crest Securities Reiterates On SBA Communications Following Beat/Raise Quarter

Share:
Related SBAC
Why You Should Hold American Tower (AMT) Stock Amid Risks
Raymond James 'Takes Some Chips Off The Table,' Downgrades American Tower, Crown Castle and SBA Communications

In a report published Monday, Pacific Crest Securities analyst Michael Bowen reiterated an Outperform rating on SBA Communications (NASDAQ: SBAC), and raised the price target from $112.00 to $116.00.

In the report, Pacific Crest Securities noted, “We are increasing our 2014 estimates following strong site leasing activity and strong prospects for more site leasing in 2014 from the carriers not included in SBA's 2014 outlook , as well as unexpected strength from recent portfolio acquisitions. Our $116 target is 23x 2014 P/AFFO, which is in line with peers' target multiples, though our estimate has SBA growing 2014 AFFO/share by 22.7%, better than the peer average of 14.5%.”

SBA Communications closed on Friday at $94.89.

Latest Ratings for SBAC

DateFirmActionFromTo
Jun 2017Raymond JamesDowngradesStrong BuyOutperform
Apr 2017GuggenheimUpgradesNeutralBuy
Jan 2017CitigroupDowngradesBuyNeutral

View More Analyst Ratings for SBAC
View the Latest Analyst Ratings

Posted-In: Michael Bowen Pacific Crest SecuritiesAnalyst Color Price Target Analyst Ratings

 

Related Articles (SBAC)

View Comments and Join the Discussion!