Canaccord Genuity Raises PT and Estimates on SBA Communications (SBAC); Announces TowerCo Acquisition

June 27, 2012 8:18 AM EDT
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Price: $105.57 --0%

Rating Summary:
    17 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 29 | Down: 30 | New: 23
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Canaccord Genuity maintains a 'Buy' on SBA Communications (NASDAQ: SBAC) price target of $67.00 (from $60.00).

Analyst, Greg Miller, said, "Following the announcement of the acquisition of TowerCo assets, we are increasing our estimates and raising our price target to $67 on the belief that not only were previous estimates conservative but also that SBA Communications will be capable of leasing up the towers, improving unit tower cash flow and ultimately continuing to improve shareholder value."

For an analyst ratings summary and ratings history on SBA Communications click here. For more ratings news on SBA Communications click here.

Shares of SBA Communications closed at $57.15 yesterday.

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