SBA Communications price target lowered to $240 from $245 at JPMorgan
JPMorgan analyst Richard Choe lowered the firm’s price target on SBA Communications (SBAC) to $240 from $245 and keeps a Neutral rating on the shares. The firm reduced new leasing estimates for the tower companies ahead of earnings to reflect a more conservative approach due to the potential impact from EchoStar. A “modest” industry outlook is outweighed by the EchoStar/Dish overhang, but deals could be a positive catalyst for the tower stocks, the analyst tells investors in a research note.
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