BofA Securities analyst Michael Funk raised the price target on SBA Communications (NASDAQ: SBAC) to $230.00 (from $220.00) while maintaining a Neutral rating.

The analyst commented, "SBAC reported a broadly in-line 1Q with improving backlog and marginally raised guidance. Backlog levels in the U.S. increased from 4Q to 1Q and management expects steady leasing activity throughout 2026. Management addressed recent reports that SBAC is contemplating going private by noting being public or private doesn’t change how management runs the business and the primary difference is how public and private companies are capitalized. On capital allocation, SBAC expects to put more capital to work in Central America where it sees strong risk adjusted returns. SBAC sees 2026 as peak year for international churn."