SBA Communications Corporation (NASDAQ:SBAC) has been upgraded to Overweight in a statement by JPMorgan Chase & Co. earlier today.
- Updated: November 30, 2016
Displaying a price of $99.81, SBA Communications Corporation (NASDAQ:SBAC) traded 1.03% higher on the day. The last stock close price is down -7.09% from the two hundred day average, compared with the Standard & Poor's 500 Index which has decreased -0.03% over the same period. SBA Communications Corporation has recorded a 50-day average of $107.12 and a two hundred day average of $108.54. Volume of trade was down over the average, with 56,014 shares of SBAC changing hands under the typical 1,033,520
JPMorgan Chase & Co. has upgraded SBA Communications Corporation (NASDAQ:SBAC) to Overweight in a statement released on Wednesday November 30, 2016.
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SBA Communications Corporation has a 52 week low of $82.80 and a 52 week high of $118.57 with a PE ratio of 124.96 The company’s market cap is currently $0.
In addition to JPMorgan Chase & Co. reporting its stock price target, a total of 15 brokerages have issued a ratings update on the company. The average target is $119.53 with six equity analysts rating the company a strong buy, 6 firms rating the stock a buy, 5 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 brokers rating the stock a sell.
Brief Synopsis On SBA Communications Corporation (NASDAQ:SBAC)
SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company's operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing. The Company's primary business line is its site leasing business. In its site leasing business, the Company leases antenna space to wireless service providers on towers that it owns or operates, and manages rooftop and tower sites for property owners under various contractual arrangements. The Company owns approximately 25,460 towers. It also manages or leases approximately 5,500 actual or potential towers. The Company's other business line is its site development business, through which it assists wireless service providers in developing and maintaining their own wireless service networks.
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