SBA Communications price target raised to $240 from $220 at Wells Fargo

Wells Fargo raised the firm’s price target on SBA Communications to $240 from $220 and keeps an Equal Weight rating on the shares. The firm remains on the sidelines across towers. While there are some “greenshoots” on domestic leasing, near-term leasing is likely to remain relatively slow, while funds from operations growth looks challenged until 2026, the analyst tells investors in a research note.