Barclays analyst Brendan Lynch lowered the firm’s price target on SBA Communications to $296 from $306 and keeps an Overweight rating on the shares. The company produced good growth in Q2, but acknowledged domestic carrier activity was weaker than internal expectations, the analyst tells investors in a research note. The firm anticipates a relatively soft start to 2024, but still views the long-term growth and operating leverage of the business as attractive.
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