Canaccord Genuity Starts SBA Communications (SBAC) at Buy; Valuation Gradually Converging
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Price: $185.20 -0.53%
Rating Summary:
20 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
20 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity initiates coverage on SBA Communications (NASDAQ: SBAC) with a Buy. PT $56.00.
Analyst, Greg Miller, said, "The least expensive in the tower group but driven by similar favorable secular drivers, we anticipate SBAC will likely see its valuation gradually converge with that of American Tower (NYSE: AMT) and Crown Castle (NYSE: CCI). The release of REIT equivalent valuation metrics will help investors compare SBAC in the same light as CCI and SBAC. We believe the recent acquisition of Mobilitie with an implied price per tower of $367k (below recent purchase prices) will allow the company to generate a very reasonable return despite the revenue sharing arrangement."
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 $50.72 yesterday.
Analyst, Greg Miller, said, "The least expensive in the tower group but driven by similar favorable secular drivers, we anticipate SBAC will likely see its valuation gradually converge with that of American Tower (NYSE: AMT) and Crown Castle (NYSE: CCI). The release of REIT equivalent valuation metrics will help investors compare SBAC in the same light as CCI and SBAC. We believe the recent acquisition of Mobilitie with an implied price per tower of $367k (below recent purchase prices) will allow the company to generate a very reasonable return despite the revenue sharing arrangement."
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 $50.72 yesterday.
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