Citi lowered the firm’s price target on SBA Communications to $260 from $290 and keeps a Buy rating on the shares. The company reported an “underwhelming” quarter with a softer start to domestic organic revenue growth in a low activity environment, while its 2024 guidance absorbed greater currency headwinds and higher interest cost, the analyst tells investors in a research note. However, the firm still believes there are opportunities for SBA’s organic leasing to improve heading into next year.
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