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SBAC

SBA Communications

$260.20

0.355 (0.14%)

, TMUS

T-Mobile

$77.76

0.49 (0.63%)

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

SBA Communications price target raised to $292 from $259 at KeyBanc

KeyBanc analyst Brandon Nispel raised his price target for SBA Communications (SBAC) to $292 from $259 as he believes the tower operators are the key beneficiaries of 5G network deployments by U.S. carriers with the T-Mobile (TMUS)/Sprint (S) merger enabling upside organic growth drivers coming from Dish (DISH) and a potential acceleration from AT&T (T)/Verizon (VZ). He reiterates an Overweight rating on SBA Communications' shares.

SBAC

SBA Communications

$260.20

0.355 (0.14%)

TMUS

T-Mobile

$77.76

0.49 (0.63%)

S

Sprint

$6.88

0.01 (0.15%)

T

AT&T

$34.98

0.64 (1.86%)

VZ

Verizon

$56.65

0.34 (0.60%)

DISH

Dish

$31.98

0.09 (0.28%)

  • 23

    Sep

  • 23

    Oct

SBAC SBA Communications
$260.20

0.355 (0.14%)

07/30/19
KEYB
07/30/19
NO CHANGE
Target $259
KEYB
Overweight
SBA Communications price target raised to $259 from $252 at KeyBanc
KeyBanc analyst Brandon Nispel raised his price target for SBA Communications (SBAC) to $259 from $252 as Q2 results beat expectations and 2019 U.S. organic growth was raised. The analyst continues to expect accelerating rates of organic growth throughout 2019 and into 2020 with a "very bullish scenario" looming from T-Mobile (TMUS)/Sprint (S) and Dish (DISH). The dividend announcement came earlier than expected and he expects the company to continue to allocate capital toward accretive M&A, which he finds attractive. Nispel reiterates an Overweight rating on SBA Communications' shares.
08/01/19
JPMS
08/01/19
NO CHANGE
JPMS
JPMorgan upgrades Crown Castle to Overweight, downgrades SBA to Neutral
JPMorgan analyst Philip Cusick upgraded Crown Castle International (CCI) to Overweight from Neutral and raised his price target for the shares to $150 from $125. The analyst also downgraded SBA Communications (SBAC) to Neutral from Overweight while raising his price target for the shares to $270 from $220. He keeps a Neutral rating on American Tower (AMT) with an increased price target of $220. Despite's Crown's "massive" investment in fiber and small cells, the company's underlying domestic macro business is underappreciated relative to peers, Cusick tells investors in a research note. Crown Castle is trading at nearly a five-turn discount to SBA Communications, the widest spread in over a decade, says the analyst. He recommends investors maintain some exposure to towers, but believes that "valuations have become stretched."
08/01/19
08/01/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Prudential (PRU) downgraded to Neutral from Buy at B. Riley FBR with analyst Randy Binner citing the company's Q2 results. 2. SBA Communications (SBAC) downgraded to Neutral from Overweight at JPMorgan. 3. Air Products (APD) downgraded to Hold from Buy at HSBC with analyst Sriharsha Pappu citing valuation for the downgrade. 4. T2 Biosystems (TTOO) downgraded to Neutral from Buy at Alliance Global Partners. 5. Corning (GLW) downgraded to Neutral from Positive at Susquehanna with analyst Mehdi Hosseini downgraded Corning (GLW) to Neutral from Positive with analyst Mehdi Hosseini saying he moved to the sidelines until he is convinced earnings and CAGR can exceed the earnings from the S&P500. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/01/19
JPMS
08/01/19
DOWNGRADE
Target $270
JPMS
Neutral
SBA Communications downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Philip Cusick downgraded SBA Communications to Neutral from Overweight while raising his price target for the shares to $270 from $220.
TMUS T-Mobile
$77.76

0.49 (0.63%)

08/19/19
KEYB
08/19/19
NO CHANGE
Target $253
KEYB
Overweight
American Tower price target raised to $253 from $225 at KeyBanc
KeyBanc analyst Brandon Nispel raised his price target for American Tower (AMT) to $253 from $225 as he believes the tower operators are the key beneficiaries of 5G network deployments by U.S. carriers with the T-Mobile (TMUS)/Sprint (S) merger enabling upside organic growth drivers coming from Dish (DISH) and a potential acceleration from AT&T (T)/Verizon (VZ). He reiterates an Overweight rating on American Tower's shares.
08/06/19
RAJA
08/06/19
NO CHANGE
Target $94
RAJA
Strong Buy
T-Mobile price target raised to $94 from $86 at Raymond James
Raymond James analyst Ric Prentiss raised his price target for T-Mobile (TMUS) to $94 from $86 and reiterated a Strong Buy rating following continued strong operating results. In a research note to investors, Prentiss says the merger with Sprint (S) continues to make progress as the DOJ announced its approval of the deal, while the FCC continued its support following the DOJ announcement. The analyst thinks the proposed merger can can drive margins and cash flows higher via scale and the "wedding cake" scenario of low/mid/high band spectrum position NewCo so it can quickly attack the fixed wireless broadband and other 5G markets across the entire U.S.
08/05/19
RBCM
08/05/19
NO CHANGE
Target $87
RBCM
Outperform
T-Mobile price target raised to $87 from $80 at RBC Capital
RBC Capital analyst Jonathan Atkin raised his price target on T-Mobile to $87 and kept his Outperform rating after its Q2 earnings beat and raised FY19 guidance. The analyst believes that the company can continue to build on its "subscriber momentum and churn improvement" with deeper penetration of the greater enterprise, small business, and the public sector markets while also improving its network and expanding its retail footprint.
S Sprint
$6.88

0.01 (0.15%)

07/29/19
MSCO
07/29/19
NO CHANGE
Target $29
MSCO
Equal Weight
Dish deal a win for wireless plans, impact on stock unclear, says Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne said Dish's (DISH) deal with Sprint (S) and T-Mobile (TMUS) is a "clear positive" for the former's wireless plans, contending that securing an MVNO, a customer base and extending its construction milestones was "in many ways about as positive a development as Dish could have hoped for" given its levered balance sheet, declining free cash flow and need for a substantial network build-out. However, he thinks the implications for Dish shares are less clear as the wireless project remains risky and the company still has a stretched capital structure and significant planned capital needs. The company has already spent over $20B on spectrum and network capex, with plans to spend potentially another $10B, and it is unclear if it can build a wireless business with a value of over $30B, said Swinburne, who acknowledges that the deal does give Dish the "two key wins" of more time and flexibility. He keeps an Equal Weight rating on Dish shares with a $29 price target.
T AT&T
$34.98

0.64 (1.86%)

07/29/19
KEYB
07/29/19
NO CHANGE
KEYB
T-Mobile, Sprint deal negative for AT&T/Verizon, says KeyBanc
Commenting on T-Mobile (TMUS)/Sprint (S) deal approval and Dish (DISH) acquisition of Sprint's Prepaid business and Sprint's 800MHz Spectrum for a total of $5.0B, KeyBanc analyst Brandon Nispel says he continues to believe the wireless industry is getting more competitive with the entrance of cable providers and that this merger is a driving force to take competition to another level as it enables T-Mobile to be more aggressive, while also enabling Dish to advance its wireless ambitions. Given the increasing competitive nature of the wireless market, Nispel thinks the implications are negative for AT&T (T) and Verizon (VZ) given their already low gross add share and potential for churn to rise through a more active promotional environment.
07/29/19
WELS
07/29/19
NO CHANGE
WELS
Sprint, T-Mobile merger mixed for towers, says Wells Fargo
Wells Fargo analyst Jennifer Fritzsche sees the Sprint (S)/T-Mobile (TMUS) deal as mixed for towers. One "major positive" is that Dish (DISH) will have the option to assume leases on certain cell sites that are decommissioned by New T-Mobile for 5 years, which lessens the looming churn risk the towers faced as Sprint sites would be decommissioned, but it also lessens the "manna from heaven" impact of bringing in a new carrier that would have a Greenfield tower build, she contends. Additionally, the analyst notes that those towers which were now benefiting from some Dish work could see some near-term pause given the removal of its March 2020 build deadline. Fritzsche also argues that longer term, a new competitor is an incremental negative for AT&T (T) and Verizon (VZ) given Dish's disruptive nature.
07/29/19
FBCO
07/29/19
NO CHANGE
FBCO
Credit Suisse sees virtually no impact for AT&T, Verizon from Dish near-term
Following the Justice Department's settlement with T-Mobile (TMUS) and Sprint (S), Credit Suisse analyst Douglas Mitchelson notes that for Altice USA (ATUS), the settlement requires mobile virtual network operator contracts to be extended through at least 7 years post closing, which he views as a "significant positive" for Altice. For cable broadly, Dish (DISH) would represent an "intriguing option" for entry into the wireless business longer-term if CEO decided to sell the company, he contends. The analyst would expect that Comcast (CMCSA) and Charter (CHTR) would wait until the point where wireless pricing and valuations are thought to have bottomed. For AT&T (T) and Verizon (VZ), Mitchelson sees virtually no impact from Dish the next few years as the company will be just focused on scaling marketing of its T-Mobile MVNO while building its wireless network. Longer-term, while Dish might be in a position to deflate wireless pricing, AT&T and Verizon should still have superior coverage, network density, backhaul, scale, and quality of service, he adds.
VZ Verizon
$56.65

0.34 (0.60%)

DISH Dish
$31.98

0.09 (0.28%)

07/29/19
07/29/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Starbucks (SBUX) downgraded to Neutral from Overweight at JPMorgan and to Neutral from Outperform at Baird. 2. Dow Inc. (DOW) downgraded to Neutral from Positive at Susquehanna and to Neutral from Buy at Citi. 3. Dish (DISH) downgraded to Underweight from Equal Weight at Barclays with analyst Kannan Venkateshwar saying both Dish and T-Mobile (TMUS) "have a tricky transition path to wade through" following the Justice Department's approval of the latter's merger with Sprint (S). 4. RA Pharmaceuticals (RARX) double downgraded to Market Perform at Raymond James with analyst Steven Seedhouse saying shares are fairly valued given the company's "long, competitive road ahead." 5. UPS (UPS) downgraded to Hold from Buy at Stifel with analyst David Ross saying with the shares now above his price target, the analyst prefers to move to the sidelines and wait for a better entry point. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/14/19
RILY
08/14/19
NO CHANGE
Target $61
RILY
Buy
Sinclair Broadcast price target lowered to $61 from $70 at B. Riley FBR
B. Riley FBR analyst Zack Silver lowered his price target for Sinclair Broadcast Group (SBGI) to $61 from $70 to factor in the potential negative impact from the elimination of Dish (DISH) carriage in perpetuity. The analyst, however, keeps a Buy rating on the shares. He's optimistic that a deal between Dish and Sinclair gets done for the FOX regional sports networks, shortly after Sinclair closes the RSN acquisition.

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Facebook

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XLNX

Xilinx

$103.59

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SAIC

SAIC

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LDOS

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CACI

CACI

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BAH

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GIB

CGI Group

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COST

Costco

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W

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XYL

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