SBA Communications upgraded to Outperform from Market Perform at BMO Capital

BMO Capital analyst Ari Klein upgraded SBA Communications to Outperform from Market Perform with a price target of $285, up from $245. The analyst has turned more bullish on tower real estate investment trusts, saying the sector is well positioned in a lower rate environment and offers defensive characteristics against a potentially weaker macro backdrop. The firm views SBA’s current valuation as an attractive opportunity “to own a high-quality business with solid long-term growth prospects.”