Wells Fargo raised the firm’s price target on SBA Communications (SBAC) to $220 from $195 and keeps an Equal Weight rating on the shares. The firm is also assigning 50% probability of a take-private at $250. At $250, Wells believes sponsors could generate about 10%-11% IRR, with numerous infra fund / sovereign wealth / pension fund investors that may be interested.
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Read More on SBAC:
- ‘Reasonable’ take-out value implies 15%-30% upside for SBA, says Jefferies
- SBA Communications price target raised to $220 from $210 at BMO Capital
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