Michael Elias, an analyst from TD Cowen, maintained the Buy rating on SBA Communications. The associated price target is $225.00.
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Michael Elias has given his Buy rating due to a combination of factors, notably his view that SBA’s underlying tower business remains resilient despite headline softness from EchoStar’s removal and elevated churn. He emphasizes that domestic leasing trends are supported by ongoing network densification and expansion, including a larger expected contribution from Verizon under a recently signed long-term master lease agreement.
He also highlights management’s confidence in achieving mid-single-digit net organic revenue growth over the longer term, with an even stronger trajectory for AFFO per share as churn moderates after 2026. International markets, while still digesting carrier consolidation and bankruptcies, are expected to generate additional colocation opportunities as remaining operators reconfigure their networks, which Elias believes underpins a sustainable growth algorithm that justifies maintaining a Buy recommendation.
Elias covers the Real Estate sector, focusing on stocks such as Equinix, American Tower, and Digital Realty. According to TipRanks, Elias has an average return of 19.4% and a 59.18% success rate on recommended stocks.
In another report released on February 20, Citi also maintained a Buy rating on the stock with a $235.00 price target.