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SBA Communications Corp. (NASDAQ:SBAC) reached a new 52-week high during mid-day trading on Tuesday , Stock Ratings Network.com reports. The company traded as high as $94.76 and last traded at $94.63, with a volume of 664,821 shares trading hands. The stock had previously closed at $93.17.

Several analysts have recently commented on the stock. Analysts at Citigroup Inc. downgraded shares of SBA Communications Corp. from a “buy” rating to a “neutral” rating in a research note on Friday. They noted that the move was a valuation call. Separately, analysts at Zacks upgraded shares of SBA Communications Corp. from a “neutral” rating to an “outperform” rating in a research note on Tuesday, January 14th. They now have a $93.00 price target on the stock. Finally, analysts at Macquarie upgraded shares of SBA Communications Corp. from a “neutral” rating to an “outperform” rating in a research note on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $99.78.

The stock has a 50-day moving average of $90.32 and a 200-day moving average of $83.38. The company’s market cap is $12.162 billion.

SBA Communications Corporation (NASDAQ:SBAC) is an independent owner and operator of wireless communications towers.

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