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SBAC

SBA Communications

$233.54

0.89 (0.38%)

, AMT

American Tower

$208.84

-0.18 (-0.09%)

10:29
07/08/19
07/08
10:29
07/08/19
10:29

MoffettNathanson downgrades SBA to Neutral despite boosting Tower targets

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.

SBAC

SBA Communications

$233.54

0.89 (0.38%)

AMT

American Tower

$208.84

-0.18 (-0.09%)

CCI

Crown Castle

$133.97

-0.23 (-0.17%)

  • 18

    Jul

  • 31

    Jul

SBAC SBA Communications
$233.54

0.89 (0.38%)

06/13/19
NWST
06/13/19
DOWNGRADE
NWST
Neutral
SBA Communications downgraded to Neutral from Buy at New Street
New Street downgraded SBA Communications (SBAC) to Neutral from Buy with a $236 price target and said it is no longer recommending owning any of the towers owners' stocks.
07/08/19
MOFT
07/08/19
DOWNGRADE
MOFT
Neutral
SBA Communications downgraded to Neutral from Buy at MoffettNathanson
AMT American Tower
$208.84

-0.18 (-0.09%)

06/07/19
UBSW
06/07/19
DOWNGRADE
Target $222
UBSW
Neutral
American Tower downgraded to Neutral from Buy at UBS
UBS analyst Batya Levi downgraded American Tower to Neutral from Buy on valuation, saying that after a 50% rise in the stock price over the past year, shares now trade at about 24-times expected forward AFFO - 3 standard deviations above its long term average. The analyst also raised his price target on American Tower to $222 from $195 to reflect the run-up and remains positive on the company, noting that it is "well positioned" to benefit from the industry trends of higher data usage and greater carrier activity.
06/07/19
06/07/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. American Tower (AMT) downgraded to Neutral from Buy at UBS with analyst Batya Levi saying that after a 50% rise in the stock price over the past year, shares now trade at about 24-times expected forward AFFO - 3 standard deviations above its long term average. 2. Mammoth Energy (TUSK) downgraded to Equal Weight from Overweight at Stephens with analyst Tommy Moll citing The Wall Street Journal's indication that the DHS Inspector General's office is investigating a FEMA official involving contracts awarded to the company's Cobra subsidiary in Puerto Rico and that the FBI has opened a related criminal inquiry. 3. Camping World (CWH) downgraded to Market Perform from Outperform at BMO Capital with analyst Gerrick Johnson saying he has growing concerns that the recreational vehicle industry may be taking longer than anticipated to "right size." 4. Centennial Resource (CDEV) downgraded to Neutral from Overweight at JPMorgan while QEP Resources (QEP) was downgraded to Underweight from Neutral at JPMorgan. QEP Resources (QEP) was also downgraded to Hold from Buy at Tudor Pickering. 5. Skyworks (SWKS) downgraded to Hold from Buy at Argus with analyst Jim Kelleher citings the company's reduced Q3 guidance to account for the impact of lost business from Huawei export ban, even though he expects that business to return later this year. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CCI Crown Castle
$133.97

-0.23 (-0.17%)

04/15/19
WELS
04/15/19
NO CHANGE
Target $142
WELS
Outperform
Crown Castle price target raised to $142 from $129 at Wells Fargo
Wells Fargo analyst Jennifer Fritzsche raised her price target for Crown Castle to $142 from $129 as it checks multiple infrastructure boxes for wireless carriers. The analyst believes this multi-tentacle approach will serve it well as carriers' network needs become more focused on densification and fiber centric. Simply put, the company has "more tools in the toolkit," she contends. Fritzsche reiterates an Outperform rating on the shares.
04/17/19
GSCO
04/17/19
NO CHANGE
GSCO
Sprint, T-Mobile headlines positive for Dish, Intelsat, says Goldman Sachs
Goldman Sachs analyst Brett Feldman, while taking no view on the outcome of the proposed merger between Sprint (S) and T-Mobile (TMUS), laid out his thoughts for other industry participants following the Wall Street Journal's report that the Department of Justice is unlikely to approve the deal as currently structured. The analyst believes investors will initially see the headlines as negative for the other major wireless carriers, namely AT&T (T) and Verizon (VZ), since they "create uncertainty over long-term industry structure." Further, investors will initially see these headlines as a slight positive for tower operators American Tower (AMT), Crown Castle (CCI) and SBA Communications (SBAC) as they "imply less risk of material cell site decommissioning," Feldman told investors earlier in a research note. The analyst also thinks investors will view the Journal's report as positive for owners of excess spectrum such as Dish (DISH) and Intelsat (I) and a slight positive for cable operators like Altice USA (ATUS), Charter (CHTR) and Comcast (CMCSA).
06/13/19
NWST
06/13/19
DOWNGRADE
NWST
Sell
Crown Castle downgraded to Sell from Neutral at New Street
New Street downgraded Crown Castle (CCI) to Sell from Neutral with a $113 price target and said it is no longer recommending owning any of the towers owners' stocks. New Street also downgrade SBA Communications (SBAC) to Neutral from Buy this morning and keeps a Neutral rating on American Tower (AMT).
07/08/19
SBSH
07/08/19
NO CHANGE
Target $231
SBSH
Neutral
Citi boosts price targets for Tower stocks ahead of Q2 results
Tower stocks have performed well year-to-date, benefiting from a combination of the reversal in the 10-year treasury rates, broader investor interest, strengthening operating performance, and now the potential for a new wireless entrant to take the place of Sprint (S) as a fourth national wireless competitor, Citi analyst Michael Rollins tells investors in a research note. The analyst continues to like the fundamental operating environment and sees room for average site leasing growth to improve through 2020. However, intrinsic valuations remain elevated on tower cash gross profit multiples and are at the higher-end of transaction ranges that were established for larger, strategic acquisitions, adds the analyst. He raised his price target for Neutral-rated American Tower (AMT) to $231 from $205, for Neutral-rated Crown Castle (CCI) to $144 from $136 and for Buy-rated SBA Communications (SBAC) to $270 from $227.

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PTI

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$0.89

-0.0209 (-2.31%)

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RDHL

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07:14
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  • 23

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XLNX

Xilinx

$124.24

1.52 (1.24%)

07:12
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  • 24

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FB

Facebook

$202.32

3.94 (1.99%)

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  • 24

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CCBG

Capital City Bank

$24.70

0.11 (0.45%)

07:11
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AAPL

Apple

$207.21

4.59 (2.27%)

07:10
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  • 30

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MBIO

Mustang Bio

$3.09

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UUGRY

United Utilities

$0.00

(0.00%)

07:09
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LJPC

La Jolla

$8.54

-0.16 (-1.84%)

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IPG

Interpublic Group

$22.78

-0.01 (-0.04%)

07:09
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  • 23

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UTX

United Technologies

$132.94

0.57 (0.43%)

07:08
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  • 23

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NGG

National Grid

$51.92

-0.02 (-0.04%)

07:08
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IRDM

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$24.15

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Pentair

$37.59

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ZION

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HBCP

Home Bancorp

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