Wedbush Upgrades SBA Communications (SBAC) to Outperform; Significant Valuation Discount vs. AMT Unwarranted
Tweet
Share
E-mailGet Alerts SBAC Hot Sheet
Price: $182.11 -1.67%
Rating Summary:
20 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
20 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Join SI Premium – FREE
Wedbush upgraded SBA Communications (NASDAQ: SBAC) from Neutral to Outperform, price target raised from $51 to $54.
Wedbush analyst says, "We are upgrading SBA Communications ahead of what we expect will be an upwards revision to management’s outlook following the close of the Mobilitie transaction in Q2. We believe that SBAC’s current valuation discount vs. American Tower (NYSE: AMT) is unwarranted. We like the Mobilitie acquisition and believe that this was a fairly priced transaction at a 6.9% yield. It adds a set of good quality assets and is expected to be immediately accretive to equity free cash flow."
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 $47.10 yesterday.
Wedbush analyst says, "We are upgrading SBA Communications ahead of what we expect will be an upwards revision to management’s outlook following the close of the Mobilitie transaction in Q2. We believe that SBAC’s current valuation discount vs. American Tower (NYSE: AMT) is unwarranted. We like the Mobilitie acquisition and believe that this was a fairly priced transaction at a 6.9% yield. It adds a set of good quality assets and is expected to be immediately accretive to equity free cash flow."
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 $47.10 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Freedom Broker Upgrades PrimeEnergy Resource (PNRG) to Hold
- Samsonite International SA (1910:HK) (SMSEY) PT Lowered to HK$19.60 at Macquarie
- Enovix Corporation (ENVX) PT Lowered to $5 at BofA Securities
Create E-mail Alert Related Categories
Analyst PT Change, UpgradesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
