Benchmark Raises Price Target on SBA Communications (SBAC), Calls Co. Undervalued
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Price: $199.00 --0%
Rating Summary:
23 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 6
Rating Summary:
23 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 6
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Benchmark is maintaining its Buy rating on shares of SBA Communications (NASDAQ: SBAC), while raising its price target from $50 to $54 ahead of the release of its Q4 results.
The firm highlights shares of SBAC should trade closer to American Tower (NYSE: AMT), which is currently valued at a premium to SBAC. Benchmark notes SBAC has more exposure to the low risk U.S market.
An analyst at Benchmark comments, "AMT has been thought to be a potential buyer of SBA for years and could pay $57 per share for SBA in a transaction that would be neutral to AMT’s AFFO valuation. While SBA could, in theory, drive the market to close this gap by converting to a REIT, we doubt this will happen any time soon."
For Q4 and FY11, the firm is estimates earnings will total ($0.08) and ($0.38). Benchmark believes the company will be in the green in 2013 with $0.05 per share in earnings.
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 $45.39 yesterday.
The firm highlights shares of SBAC should trade closer to American Tower (NYSE: AMT), which is currently valued at a premium to SBAC. Benchmark notes SBAC has more exposure to the low risk U.S market.
An analyst at Benchmark comments, "AMT has been thought to be a potential buyer of SBA for years and could pay $57 per share for SBA in a transaction that would be neutral to AMT’s AFFO valuation. While SBA could, in theory, drive the market to close this gap by converting to a REIT, we doubt this will happen any time soon."
For Q4 and FY11, the firm is estimates earnings will total ($0.08) and ($0.38). Benchmark believes the company will be in the green in 2013 with $0.05 per share in earnings.
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 $45.39 yesterday.
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