As previously reported, Scotiabank analyst Maher Yaghi initiated coverage of SBA Communications (SBAC) with a Sector Perform rating and $252 price target While acknowledging that the stock appears undervalued on an EV/EBITDA basis relative to the company’s telco infrastructure peers, its cites “several near-term challenges” for a cautious stance, adding that it believes the market will remain focused on the magnitude of near-term AFFOPS and organic growth pressures.
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