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