SBA Communications assumed at Equal Weight from Overweight at Morgan Stanley

Morgan Stanley downgraded SBA Communications (SBAC) to Equal Weight from Overweight with a $240 price target as the analyst took over lead coverage on the stock. While the analyst forecasts “industry leading” double digit dividend per share growth, the firm sees that growth as largely reflected in expectations. Additionally, organic billings growth faces elevated customer churn headwinds in both the U.S. and Latin America through 2026 and SBA has more material interest expense headwinds than peers, the analyst tells investors.