SBA Communications Corporation (SBAC) : Analyst Rating Update

SBA Communications Corporation (SBAC) : Zacks Investment Research ranks SBA Communications Corporation (SBAC) as 3, which is a Hold recommendation. 7 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 other analysts are mildly bullish on the stock and favor a Buy. A total of 5 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 13 research analysts is 1.85, which indicates as a Buy.

SBA Communications Corporation (SBAC) : Currently there are 11 street experts covering SBA Communications Corporation (SBAC) stock. The most bullish and bearish price target for the stock is $133 and $102 respectively for the short term. The average price target of all the analysts comes to $120.46. The estimated standard deviation from the target is $9.47.

SBA Communications Corporation (NASDAQ:SBAC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $108.40 and $107.58 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $109.65. The buying momentum continued till the end and the stock did not give up its gains. It closed at $109.65, notching a gain of 0.65% for the day. The total traded volume was 741,546 . The stock had closed at $108.94 on the previous day.

Also, Brokerage firm Deutsche Bank maintains its rating on SBA Communications Corporation (NASDAQ:SBAC). As per the latest information, the brokerage house lowers the price target to $102 per share from a prior target of $106. The shares have been rated Hold. The rating by the firm was issued on May 27, 2016. The company shares have dropped -5.22% from its 1 Year high price. On Aug 18, 2015, the shares registered one year high at $128.47 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $101.77 and the 200 Day Moving Average price is recorded at $99.04.

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company operated through two segments, namely site leasing and site development. The Companys primary business line is its site leasing business. In its site leasing business, the Company leases antenna space to wireless service providers on towers that it owns or operates, and manage rooftop and tower sites for property owners under various contractual arrangements. It also managed or leased approximately 5,000 actual or potential towers. Its other business line is its site development business, through which it assists wireless service providers in developing and maintaining their own wireless service networks. The Companys principal operations are in the United States and its territories. In addition, it owns and operates towers in Canada, Central America, and South America.

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