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Fly News Breaks for March 2, 2020
DISH, S, TMUS, SBAC
Mar 2, 2020 | 06:40 EDT
BofA analyst David Barden upgraded SBA Communications to Buy from Neutral with a $290 price target. The analyst notes that tower valuations are now at a historical premium, but he expects that to be sustained with the finalized regulatory approval of the Sprint (S) - T-Mobile (TMUS) merger. Barden adds that Dish (DISH) should be able to take legacy Sprint leases if it is successful in its network expansion. Despite the risk of "lumpy" results, Barden believes that tower stocks will "grind higher" as more infrastructure spending translates into faster growth.
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