KeyBanc Upgrades SBA Communications (SBAC) Outlook Despite Sector Challenges

SBA Communications Corporation (NASDAQ:SBAC) ranks among the best real estate stocks to invest in. On September 17, KeyBanc maintained its Overweight rating on SBA Communications Corporation (NASDAQ:SBAC) and increased its price target from $280 to $325. The raise is a substantial upward adjustment, indicating that KeyBanc believes the telecom infrastructure provider has further upside potential in spite of some sector challenges.

SBA Communications Corporation (NASDAQ:SBAC)’s leasing environment presents difficulties, according to KeyBanc, which specifically mentioned the AT&T/DISH spectrum agreement as a concern that would affect the company’s future growth trajectory.

The firm also admitted that incremental DISH churn makes it difficult to support its premise that SBA will return to mid-single-digit AFFO (Adjusted Funds From Operations) per share growth by 2027. Instead, that growth milestone is now anticipated in 2028.

SBA Communications Corporation (NASDAQ:SBAC) is a Real Estate Investment Trust with wireless infrastructure interests in several locations, including the United States, Canada, Central America, South America, and South Africa.

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Disclosure: None. This article is originally published at Insider Monkey.