SBA Communications Corp. Downgraded by Citigroup Inc. to Neutral (SBAC)
SBA Communications Corp. (NASDAQ:SBAC) was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.
Shares of SBA Communications Corp. (NASDAQ:SBAC) traded down 0.57% on Friday, hitting $92.38. The stock had a trading volume of 437,757 shares. SBA Communications Corp. has a 1-year low of $66.68 and a 1-year high of $93.79. The stock’s 50-day moving average is $89.92 and its 200-day moving average is $83.06. The company’s market cap is $11.860 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of SBA Communications Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, January 14th. They now have a $93.00 price target on the stock. Separately, analysts at Macquarie upgraded shares of SBA Communications Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, December 19th. Finally, analysts at Jefferies Group initiated coverage on shares of SBA Communications Corp. in a research note to investors on Thursday, December 19th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $99.78.
SBA Communications Corporation (NASDAQ:SBAC) is an independent owner and operator of wireless communications towers.
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