SBA Communications price target lowered to $195 from $205 at Wells Fargo

Wells Fargo analyst Eric Luebchow lowered the firm’s price target on SBA Communications (SBAC) to $195 from $205 and keeps an Equal Weight rating on the shares. While organic growth was in-line with the firm’s expectations and the churn pull-forward will improve the outlook after 2026, more expense pressure than expected in 2026 are still lowering Wells’ estimates as it awaits a catalyst.