David Barden, an analyst from Bank of America Securities, reiterated the Buy rating on SBA Communications (SBAC – Research Report). The associated price target is $260.00.
David Barden has given his Buy rating due to a combination of factors influencing SBA Communications’ performance and future outlook. The company’s fourth-quarter results for 2024 exceeded expectations in terms of AFFO per share, although revenue and adjusted EBITDA were in line with market predictions. This positive performance, coupled with a strong long-term growth outlook for its domestic tower business, supports the Buy rating.
Despite some challenges anticipated in 2025, such as foreign exchange impacts affecting revenue and adjusted EBITDA, SBA Communications maintains a robust position. The company has a record backlog for leasing and services, and its domestic carrier activity continues to grow. Additionally, strategic moves like the acquisition of new communication sites and the sale of tower assets in international markets further strengthen its financial standing. These factors collectively contribute to Barden’s positive outlook on the stock.
In another report released today, Barclays also maintained a Buy rating on the stock with a $240.00 price target.