SBA Communications price target lowered to $233 from $260 at Deutsche Bank

Deutsche Bank analyst Matt Niknam lowered the firm’s price target on SBA Communications (SBAC) to $233 from $260 and keeps a Buy rating on the shares as part of a Q4 earnings preview. The firm believes tower valuations “reflect many negatives amidst weak investor sentiment,” but that the stocks lack imminent catalysts to re-rate. Deutsche sees greater longer-term upside to towers, but acknowledges that data centers “have more near-term momentum on their side.”