Deutsche
Bank, who has been doing business since 1872, has reissued their “buy” rating
for SBA Communications Corporation. WatchList News reported that, “The firm currently has a $93.00 price target on the
stock, up from their previous price target of $90.00.”
“Maintain Buy and raising price target
to $93 (27% potential upside). SBAC reported a clean 2Q beat-and-raise driven
by strong demand for tower space as a result of rapid LTE upgrades by the Big 4
carriers. Unimpressed, investors sent the shares down 1.25% despite the S&P
500 hitting a record high and the 10-year treasury yield coming down. In our
view, this underperformance has created an attractive buying opportunity as we
believe the market is overlooking how positive SBAC’s results are for the
operator, and as a leading indicator for the tower sector overall. We have
increased our estimates to reflect these strong organic demand trends, boosted
our PT to $93 from $90 and reiterate our Buy rating on top pick SBAC.,” the
firm’s analyst wrote. (Source: WatchList News)
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