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SBA Communications price target raised to $240 from $230 at BMO Capital

BMO Capital raised the firm’s price target on SBA Communications (SBAC) to $240 from $230 and keeps a Market Perform rating on the shares after its Q1 FFO beat. The company had a solid start to the year, with Q1 FFO per share upside and increased guidance, and while net organic growth outlooks were unchanged, the domestic carrier activity backdrop continues to improve, the analyst tells investors in a research note. SBA’s return of share repurchases also provides capital return optionality, BMO added.

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