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Fly News Breaks for March 2, 2020
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.
News For SBAC;TMUS;S;DISH From the Last 2 Days
Nov 30, 2021 | 09:56 EST
"The stimulus programs have put some extra cash in household budgets. We're not expecting that level of activity to continue into 2022 and beyond. In a three-player market with the integration between Sprint and T-Mobile [TMUS], we suspect the activity level for postpaid in 2022 is probably going to subside. We're not forecasting it to be as strong as it was this year. But we are expecting to take more than our fair share, more than our market share in terms of that growth opportunity in the wireless business over the next 2-3 years... There are pockets of growth for us to continue to pursue," AT&T Communications' (T) CEO Jeff McElfresh said at the Wells Fargo TMT Summit 2021.