SBA Communications price target lowered to $210 from $215 at BMO Capital

BMO Capital analyst Ari Klein lowered the firm’s price target on SBA Communications (SBAC) to $210 from $215 and keeps a Market Perform rating on the shares. The company delivered a modest Q3 EBITDA and AFFO beat, with upside to domestic net organic growth and better-than-expected international performance, while its domestic leasing also picked up as anticipated, the analyst tells investors in a research note. SBA’s newly announced MLA – master lease agreement – with Verizon enhances visibility, particularly for colocations, in a backdrop of carrier spend uncertainty, the firm added.