KeyBanc analyst Brandon Nispel lowered the firm’s price target on SBA Communications (SBAC) to $235 from $280 and keeps an Overweight rating on the shares. The firm is lowering its leasing/AFFO estimates due to churn from USM, lower leasing expectations from EchoStar/Dish (SATS) and near-term churn from EchoStar/Dish and adjusting its individual Carrier leasing forecasts. Further complicating matters, SpaceX’s Starlink spectrum purchase is likely to increase debates of structural challenges, which KeyBanc doesn’t see.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SBAC:
- SBA Communications price target lowered to $226 from $257 at Barclays
- MongoDB reports Q2 beat, Sompo to acquire Aspen Insurance: Morning Buzz
- Micron initiated, Eli Lilly upgraded: Wall Street’s top analyst calls
- BofA sees EchoStar deal weighing on SBA Communications, downgrades to Neutral
- SBA Communications downgraded to Neutral from Buy at BofA