SBA Communications (SBAC) PT Raised to $352 at Jefferies

April 27, 2021 8:32 AM EDT
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Price: $320.01 +0.84%

Rating Summary:
    24 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 12 | New: 42
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Jefferies analyst Jonathan Petersen raised the price target on SBA Communications (NASDAQ: SBAC) to $352.00 (from $335.00) while maintaining a Buy rating.

The analyst commented, "SBAC delivered AFFO and EBITDA beats in 1Q21 and increased guidance for FY21. The success of the recent c-band auction, followed by VZ's new lease with SBAC to deploy this spectrum, had modest upward impact on FY21 guidance, but is more of an indication for growth in 2022+. Mgmt indicated that its leasing backlog is the largest the company's had for a few years. We raise our estimates and PT, and maintain our Buy rating."

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