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AMT

American Tower

$226.29

-0.28 (-0.12%)

, SBAC

SBA Communications

$242.85

4.33 (1.82%)

06:33
10/11/19
10/11
06:33
10/11/19
06:33

American Tower, SBA Communications should be bought on pullback, says Keybanc

KeyBanc analyst Brandon Nispel said that 5%-10% pullbacks in the tower REITS space are historically "ideal times" to build positions and he doesn't see any reason why this time is different given his view that fundamental valuation drivers remain intact. He would be a buyer of American Tower (AMT) and SBA Communications (SBAC) shares, especially if the stocks in the group sell off if Crown Castle (CCI) disappoints with its 2020 guidance next week, Nispel tells investors. He has Overweight ratings on American Tower and SBA and a Sector Weight rating on Crown Castle.

AMT

American Tower

$226.29

-0.28 (-0.12%)

SBAC

SBA Communications

$242.85

4.33 (1.82%)

CCI

Crown Castle

$138.37

1.08 (0.79%)

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    Nov

AMT American Tower
$226.29

-0.28 (-0.12%)

08/01/19
RHCO
08/01/19
NO CHANGE
Target $230
RHCO
Buy
American Tower price target raised to $230 from $210 at SunTrust
SunTrust analyst Greg Miller raised his price target on American Tower to $230 and kept his Buy rating after its Q2 earnings beat and raised guidance. The analyst also points to the quarter's strong organic billings growth, cash flow generation, and expanding margins, stating that the runway for cash flow and dividend growth at American Tower will be long.
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.
09/19/19
MSCO
09/19/19
NO CHANGE
MSCO
Morgan Stanley downgrades Communications Infrastructure view to In-Line
Morgan Stanley analyst Simon Flannery downgraded his Communications Infrastructure industry view to In-Line from Attractive, noting that the group is up about 100% since early 2016 and about 30% this year. The advance has driven more appropriate valuations for the group, but leaves a more balanced risk-reward, contends Flannery. As previously reported, he made three individual stock rating changes in conjunction with the industry rating change. Flannery upgraded QTS Realty Trust (QTS) to Overweight from Equal Weight, citing improved execution, exposure to stable enterprise revenue streams and the potential for its valuation to re-rate to peer averages. Flannery downgraded Digital Realty (DLR) and SBA Communications (SBAC), each to Equal Weight from Overweight, primarily based on valuations. He raised his price target on QTS shares to $56 from $48, raised his price target on Digital Realty to $122 from $118 and increased his SBA price target to $249 from $222. Others in the Communications Infrastructure group covered by Flannery include Crown Castle (CCI), CyrusOne (CONE), American Tower (AMT), Equinix (EQIX) and Uniti Group (UNIT).
10/10/19
MSCO
10/10/19
NO CHANGE
MSCO
Tower leasing demand looks to be softening, says Morgan Stanley
Morgan Stanley analyst Simon Flannery said that about 40% of the 20+ private tower owners he surveyed said they see decreased leasing demand in Q3, with some indicating that T-Mobile (TMUS) appears to be on hold until year end as it works on closing its deal for Sprint (S). The respondents in his survey expect an average organic growth rate of about 8% in 2019, which is down from over 10% last quarter but compares favorably to the 6% he currently estimates for American Tower (AMT), Crown Castle (CCI) and SBA Communications (SBAC), Flannery tells investors. The analyst said he expects reported Q3 results to be solid, but slower leasing activity could begin to impact tower owners' results in 2020.
SBAC SBA Communications
$242.85

4.33 (1.82%)

08/19/19
KEYB
08/19/19
NO CHANGE
Target $292
KEYB
Overweight
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.
09/19/19
MSCO
09/19/19
DOWNGRADE
MSCO
Equal Weight
SBA Communications downgraded to Equal Weight from Overweight at Morgan Stanley
CCI Crown Castle
$138.37

1.08 (0.79%)

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
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Spotify (SPOT) upgraded to Hold from Sell at Loop Capital with analyst Alan Gould saying the company's Q2 marked "another good quarter" as it reached renewal deals with 2 of 4 major labels for global recording. 2. Crown Castle (CCI) upgraded to Overweight from Neutral at JPMorgan. 3. Vanda Pharmaceuticals (VNDA) upgraded to Buy from Neutral at Citi with analyst Joel Beatty saying the current stock price is undervaluing Vanda's "profitable" base business due to "very poor" investor sentiment related to pipeline agent tradipitant. 4. United Therapeutics (UTHR) upgraded to Hold from Underperform at Jefferies with analyst Eun Yang citing valuation. 5. Five9 (FIVN) upgraded to Overweight from Neutral at JPMorgan and to Buy from Neutral at Dougherty. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

HOG

Harley-Davidson

$37.14

0.555 (1.52%)

06:54
10/22/19
10/22
06:54
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06:54
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Harley-Davidson reports Q3 retail motorcycle sales down 1.2% to 58,522 units »

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  • 22

    Oct

TRU

TransUnion

$82.55

1.055 (1.29%)

06:54
10/22/19
10/22
06:54
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06:54
Earnings
TransUnion sees FY19 adjusted EPS $2.74-$2.76, consensus $2.69 »

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BIIB

Biogen

$223.57

3.52 (1.60%)

06:54
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Hot Stocks
Biogen reports Q3 MS revenues up 2% to $2.348B »

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  • 22

    Oct

HOG

Harley-Davidson

$37.14

0.555 (1.52%)

06:53
10/22/19
10/22
06:53
10/22/19
06:53
Earnings
Harley-Davidson reports Q3 adjusted EPS 70c, consensus 52c »

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  • 22

    Oct

DGX

Quest Diagnostics

$102.21

-0.465 (-0.45%)

06:53
10/22/19
10/22
06:53
10/22/19
06:53
Earnings
Quest Diagnostics narrows FY19 adj. EPS view to $6.45-$6.50 from over $6.40 »

Consensus $6.50. Narrows…

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BIIB

Biogen

$223.57

3.52 (1.60%)

06:52
10/22/19
10/22
06:52
10/22/19
06:52
Earnings
Biogen reports Q3 adjusted EPS $9.17, consensus $8.27 »

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  • 22

    Oct

TRU

TransUnion

$82.55

1.055 (1.29%)

06:51
10/22/19
10/22
06:51
10/22/19
06:51
Earnings
TransUnion reports Q3 adjusted EPS 76c, consensus 71c »

Reports Q3 revenue $689M,…

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POL

PolyOne

$31.67

-0.065 (-0.20%)

06:50
10/22/19
10/22
06:50
10/22/19
06:50
Earnings
PolyOne reports Q3 adj. EPS 44c, consensus 43c »

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DGX

Quest Diagnostics

$102.21

-0.465 (-0.45%)

06:50
10/22/19
10/22
06:50
10/22/19
06:50
Earnings
Quest Diagnostics reports Q3 adj. EPS $1.76, consensus $1.71 »

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HAS

Hasbro

$120.11

-1.78 (-1.46%)

06:49
10/22/19
10/22
06:49
10/22/19
06:49
Hot Stocks
Hasbro to suspend share repurchase program »

At quarter-end, $367.8M…

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MTG

MGIC Investment

$13.74

0.22 (1.63%)

06:48
10/22/19
10/22
06:48
10/22/19
06:48
Earnings
MGIC Investment reports Q3 adj. EPS 48c, consensus 42c »

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  • 22

    Oct

CIT

CIT Group

$45.65

1.36 (3.07%)

06:47
10/22/19
10/22
06:47
10/22/19
06:47
Earnings
CIT Group reports Q3 EPS $1.50, consensus $1.21 »

Reports Q3 revenue $454M,…

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  • 22

    Oct

GPK

Graphic Packaging

$14.86

0.205 (1.40%)

06:44
10/22/19
10/22
06:44
10/22/19
06:44
Earnings
Graphic Packaging reports Q3 EPS 20c, consensus 19c »

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BIIB

Biogen

$223.57

3.52 (1.60%)

06:44
10/22/19
10/22
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10/22/19
06:44
Hot Stocks
Biogen soars 20% on plans to pursue Alzheimer's approval after FDA talks »

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  • 22

    Oct

HLX

Helix Energy

$8.32

0.31 (3.87%)

06:43
10/22/19
10/22
06:43
10/22/19
06:43
Earnings
Helix Energy narrows FY19 revenue view to $730M-$760M from $700M-$760M »

Consensus is $749.91M.…

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PNTG

The Pennant Group

$18.37

0.19 (1.05%)

06:43
10/22/19
10/22
06:43
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06:43
Initiation
The Pennant Group initiated  »

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PEBO

Peoples Bancorp

$32.28

0.57 (1.80%)

06:42
10/22/19
10/22
06:42
10/22/19
06:42
Earnings
Peoples Bancorp reports Q3 EPS 72c, consensus 70c »

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ACRS

Aclaris Therapeutics

$1.40

-0.205 (-12.77%)

06:41
10/22/19
10/22
06:41
10/22/19
06:41
Upgrade
Aclaris Therapeutics rating change  »

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  • 28

    Oct

FITB

Fifth Third

$28.04

0.71 (2.60%)

06:40
10/22/19
10/22
06:40
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06:40
Hot Stocks
Fifth Third sees Q4 NII down about 1% from Q3, NIM down 4-5bps »

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  • 22

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ARCH

Arch Coal

$78.98

-0.1 (-0.13%)

06:39
10/22/19
10/22
06:39
10/22/19
06:39
Hot Stocks
Arch Coal backs FY19 total sales volume view 86.7- 92.1 tons »

"We are confident in…

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  • 22

    Oct

HAS

Hasbro

$120.11

-1.78 (-1.46%)

06:39
10/22/19
10/22
06:39
10/22/19
06:39
Hot Stocks
Hasbro CEO says 'on track to deliver profitable revenue growth in 2019' »

"Hasbro remains on…

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  • 22

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CVNA

Carvana

$77.23

3.42 (4.63%)

06:39
10/22/19
10/22
06:39
10/22/19
06:39
Recommendations
Carvana analyst commentary  »

Carvana sold 15,239…

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  • 06

    Nov

ARCH

Arch Coal

$78.98

-0.1 (-0.13%)

06:37
10/22/19
10/22
06:37
10/22/19
06:37
Earnings
Arch Coal reports Q3 EPS $6.34, consensus $3.39 »

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  • 22

    Oct

ARES

Ares Management

$28.28

0.42 (1.51%)

, NEP

NextEra Energy Partners

$51.04

-0.54 (-1.05%)

06:37
10/22/19
10/22
06:37
10/22/19
06:37
Hot Stocks
Ares Management sells ownership in Meade Pipeline to NextEra Energy Partners »

Ares Management (ARES)…

ARES

Ares Management

$28.28

0.42 (1.51%)

NEP

NextEra Energy Partners

$51.04

-0.54 (-1.05%)

03/08/13
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  • 22

    Oct

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  • 04

    Dec

KOOL

Cesca Therapeutics

$5.31

-0.14 (-2.57%)

06:37
10/22/19
10/22
06:37
10/22/19
06:37
Hot Stocks
Cesca Therapeutics forms JV with Healthbanks Biotech »

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