Barclays lowered the firm’s price target on SBA Communications (SBAC) to $226 from $257 and keeps an Overweight rating on the shares. The firm views the 10%-15% contraction in tower shares since July highs as “misguided.” There should be no direct impact on SBA from EchoStar until 2036, the analyst tells investors in a research note. Barclays believes current share levels offer investors an opportunity to gain exposure at a discount to historical valuations.
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