SBA Communications price target raised to $220 from $210 at BMO Capital

BMO Capital raised the firm’s price target on SBA Communications (SBAC) to $220 from $210 and keeps a Market Perform rating on the shares. According to Bloomberg, SBA is exploring its options, including a potential sale, after receiving interest, the analyst tells investors in a research note. The firm believes that despite headwinds in recent years, the tower model “retains attractive characteristics.” The current “discounted valuations” could be compelling for private equity investors, contends BMO. However, the firm says a “transaction of this size is far from certain.” Crown Castle (CCI) is even larger than SBA but may offer “additional appeal as a U.S. tower pure-play,” contends BMO.