Canaccord Genuity Boosts Price Target on SBA Communications Corp (SBAC)

By admin | 6 years ago

Equities research analysts at Canaccord Genuity raised their price target on shares of SBA Communications Corp (NASDAQ: SBAC) from $56.00 to $60.00 in a research note issued to investors on Wednesday.

Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup (NYSE: C) raised their price target on shares of SBA Communications Corp from $60.00 to $62.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Wedbush raised their price target on shares of SBA Communications Corp from $54.00 to $62.00 in a research note to investors on Monday. Finally, analysts at Piper Jaffray (NYSE: PJC) upgraded shares of SBA Communications Corp from a “neutral” rating to an “overweight” rating in a research note to investors on Friday, April 13rd. They now have a $60.00 price target on the stock.

SBA Communications Corp opened at 54.53 on Wednesday. SBA Communications Corp has a 52-week low of $32.36 and a 52-week high of $55.45. The company’s market cap is $5.984 billion.

The company last announced its quarterly results on Monday, April 30th. It reported ($0.20) earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of ($0.18) EPS by $0.02. The company’s quarterly revenue was up 14.8% on a year-over-year basis. Analysts expect that SBA Communications Corp will post $-0.17 EPS next quarter.

SBA Communications Corporation (SBA) is an independent owner and operator of wireless communications towers.

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