Piper Jaffray Starts SBA Communications (SBAC) at Buy; $40 PT
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Piper Jaffray initiates coverage on SBA Communications (Nasdaq: SBAC) with a Buy rating and a $40 price target.
The firm calls SBA Communications "the smallest of the big three public tower" in terms of towers, but is expected to grow EBITDA at a faster rate than any of the other top companies. As a result, Piper believes SBA will beat its own estimates as well as the Street's.
SBA Communications Corporation, through its subsidiaries, engages in the ownership and operation of wireless communications towers in the United States, Puerto Rico, and the U.S. Virgin Islands.
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