The price target for SBA Communications Corporation (SBAC) has been raised to $280 by KeyBanc amidst third quarter earnings anticipation and optimism in tower sector. It has been outperforming its rivals regularly on days of strong trading. Van ECK Associates Corp and National Pension Service have increased their stakes in the company. However, Principal Financial Group Inc. and New York State Common Retirement Fund have reduced theirs.
The company has been going through oversold conditions recently. AI and 5G demand have been a positive influence leading to Barclays raising its price target to $256. Q3 2024 earnings revealed strong domestic growth. A deal with Millicom has expanded SBA's Central American presence. The stock has surged and is expected to see further gains. However, the company's stock has periodically underperformed compared to competitors.
The company's Q2 AFFO beat while its revenues fell. The firm's chairman, Jeffrey Stoops, has sold company stocks worth over $11 million. Despite underperforming the market, the company stock managed to rise on several days.
Sba Communications Corp SBAC News Analytics from Tue, 02 Aug 2022 07:00:00 GMT to Fri, 08 Nov 2024 08:56:59 GMT - Rating 2 - Innovation 3 - Information 7 - Rumor -7
