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Fly News Breaks for July 8, 2019
SBAC, AMT, CCI
Jul 8, 2019 | 10:29 EDT
MoffettNathanson analyst Nick Del Deo downgraded SBA Communications (SBAC) to Neutral from Buy despite raising his price targets across the U.S. Towers space. He boosted his target for SBA to $246 from $205, for Neutral-rated American Tower (AMT) to $189 from $164 and for Neutral-rated Crown Castle (CCI) to $134 from $118. The valuations of Tower stocks do no offer much upside, Del Deo tells investors in a research note. SBA remains the most attractive of the three, but is no longer undervalued enough to justify a Buy rating, adds the analyst.
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